Pace Digitek Limited announced on Wednesday the receipt of a significant domestic solar EPC order worth ₹375.7 crore from Bondada Engineering Limited, marking a key milestone in its renewable energy expansion strategy.

Project Specifications and Scope

Under the comprehensive agreement, Pace Digitek will execute Balance of System (BOS) works for a 300 MW AC solar power project. The contract encompasses a wide range of services designed to deliver a complete solar infrastructure solution.

Comprehensive Service Portfolio

The project scope includes end-to-end engineering and design services, along with complete procurement and EPC capabilities. The company will handle:

• Manufacturing and supply of solar components
• Erection and installation services
• Testing and commissioning activities
• Operations and maintenance support for three years post-commissioning

Strategic Significance

Management emphasized that this order underscores the company's growing capabilities in handling large-scale solar infrastructure projects. The contract reinforces Pace Digitek's strategic focus on expanding its renewable energy footprint across India's rapidly growing solar market.

Market Performance

Shares of Pace Digitek Limited ended 1.33% lower at ₹174.99 on the NSE ahead of the announcement, reflecting typical market movements prior to major corporate announcements.

Pace Digitek Limited has successfully incorporated a new subsidiary company to strengthen its position in the renewable energy sector. The subsidiary, named PACE ECOPLANET SOLACE PRIVATE LIMITED, was incorporated on January 05, 2026, and will serve as a Special Purpose Vehicle for executing orders from Maharashtra State Power Generation Company Limited.

Subsidiary Incorporation Details

The newly incorporated subsidiary has received its Certificate of Incorporation from the Registrar of Companies of Ministry of Corporate Affairs, Central Registration Centre. The key incorporation parameters are outlined below:

Shareholding Structure and Investment

Pace Digitek Limited will hold a controlling stake in the subsidiary through a strategic shareholding arrangement. The investment will be made through cash consideration for equity participation.

Business Scope and Operations

The subsidiary will operate in the renewable energy sector with a comprehensive business mandate. PACE ECOPLANET SOLACE PRIVATE LIMITED will focus on multiple aspects of energy solutions and equipment manufacturing.

The company's business activities will include:

• Manufacturing and assembly of energy storage devices
• Production of solar panels and related equipment
• Development of batteries and power generation devices
• Import and export operations for energy equipment
• Manufacturing of power supplies, generators, and chargers
• Production of sub-assemblies and components for energy systems

Strategic Purpose and Market Position

The subsidiary establishment represents Pace Digitek's strategic expansion into renewable energy project execution. As a Special Purpose Vehicle, PACE ECOPLANET SOLACE PRIVATE LIMITED will specifically handle orders from Maharashtra State Power Generation Company Limited, enabling focused project management and execution capabilities.

The incorporation aligns with the company's growth strategy in the renewable energy sector, providing dedicated resources for large-scale power generation projects. This structure allows for specialized operations while maintaining the parent company's core business focus.

Regulatory Compliance

The subsidiary incorporation has been completed in full compliance with regulatory requirements. The company has fulfilled all necessary approvals from the Ministry of Corporate Affairs and has obtained the required Certificate of Incorporation. As a related party transaction, the subsidiary will maintain appropriate governance structures and compliance protocols as per SEBI regulations.