Pace Digitek announced that its material subsidiary, Lineage Power, has received an INR 199.4 crore order from Larsen & Toubro (L&T) for the supply of Battery Energy Storage Systems (BESS) to the Bihar State Power Generation Company (BSPGCL). The project is part of the state’s renewable power infrastructure at Kajra, Lakhisarai, and is scheduled for completion by March 2026.
Pace Digitek’s L&T Order marks the company’s second major contract in November 2025, following an INR 929.76 crore solar project award from Maharashtra State Power Generation Company (MSPGCL).
Pace Digitek’s L&T Order Details
According to regulatory filings:
- Contract Value: INR 199.4 crore, including taxes.
- Client: Larsen & Toubro (Construction Division).
- End Client: Bihar State Power Generation Company (Kajra project).
- Deliverables:
- 55 BESS units with a total capacity of 2,75,825 kWh, or roughly 2.7 lakh individual cells/units, based on modular configuration.
- LiFePO₄ (Lithium Iron Phosphate) chemistry-based liquid-cooled BESS integrated containers.
- Timeline:
- Manufacturing clearance: By December 2025.
- Delivery completion: Before March 2026.
This initiative supports Bihar Genco’s ongoing plan to deploy grid-connected renewable-plus-storage capacity, ensuring better peak load management and improved reliability of power supply across the region.
Strategic Context
L&T’s Kajra project forms part of its solar-plus-storage development initiative in Bihar, integrating a 116 MWac solar photovoltaic (PV) plant with a 241 MWh battery storage system. The hybrid configuration allows energy time-shifting — storing surplus solar energy during low-demand periods and releasing it during peak hours — a critical feature in India’s evolving power mix.
For Pace Digitek and its subsidiary Lineage Power, this BESS order consolidates their position in India’s energy storage ecosystem, particularly at a time when grid-scale battery projects are gaining traction amid the government’s renewable energy targets.
Recent Order Momentum
This latest deal follows a string of large-scale wins for Pace Digitek:
- INR 929.76 crore solar PV project from MSPGCL (announced earlier in November 2025).
- The project includes design, engineering, manufacturing, supply, erection, installation, and commissioning of a 200 MWAC ground-mounted solar plant, along with three years of operation and maintenance.
- Combined, these two November orders total over INR 1,129 crore, significantly expanding the company’s project backlog.
Financial and Market Performance
Pace Digitek’s financial performance remains robust:
- Q2 FY26 revenue: INR 533 crore (up 45% quarter-on-quarter).
- Q2 FY26 net profit: INR 68 crore (up 24% QoQ from INR 55 crore).
- New orders in Q2 FY26: INR 1,345.18 crore.
- Total order book: INR 3,266 crore, ensuring strong execution visibility into FY27.
Following the L&T BESS announcement, Pace Digitek share price exhibited mixed movement:
- Earlier, Pace Digitek’s share price rose up to 3%, reaching INR 223.70 intraday.
- Later in the session, it closed around INR 215.25, indicating slight profit-booking after initial optimism.
- Over the last month, the stock has been relatively steady, fluctuating between INR 215–225, around its IPO price of INR 219.
Industry Significance
Battery Energy Storage Systems are emerging as a linchpin of India’s renewable energy expansion strategy. With grid-scale BESS now being integrated into state and national projects, companies like Pace Digitek and L&T are poised to capitalize on the sector’s accelerating demand curve.
The use of LiFePO₄ chemistry — known for safety, cycle life, and thermal stability — aligns with India’s shift toward sustainable and high-efficiency battery technologies. The Kajra deployment, when completed, will contribute meaningfully to India’s energy transition goals, particularly in storage-linked renewable infrastructure.
Verdict
Pace Digitek’s L&T BESS contract reinforces the company’s narrative as a multi-vertical energy and infrastructure company moving beyond telecom infrastructure into clean energy and battery storage solutions. Analysts expect that consistent execution of such orders, along with strong financial momentum, could position the company for re-rating in FY26–FY27.
The firm’s expanding order book, combined with sectoral policy tailwinds such as incentives under the National Energy Storage Mission, makes Pace Digitek a key mid-cap to watch within India’s renewable supply chain space.
Conclusion
Pace Digitek’s L&T BESS contract underscores the company’s growing technical and commercial credibility in India’s energy infrastructure segment. With this project slated for completion by early 2026, the company’s strategic shift toward large-scale energy storage and solar EPC (engineering, procurement, and construction) execution is becoming increasingly evident.
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