IPO Bound Pace Digitek Limited Inaugurates BESS Manufacturing Facility in Bidadi, Karnataka

BENGALURU, India, July 3, 2025 /PRNewswire/ -- Pace Digitek Limited (Pace Digitek), an experienced multi-disciplinary solutions provider in the telecom passive infrastructure sector, today announced the inauguration of its manufacturing facility at 73-P, Bidadi Industrial Area, 2^nd Phase, Sector-2, Bidadi, Karnataka for manufacturing battery energy storage systems (BESS), which has been set up through its Subsidiary i.e., Lineage Power Private Limited (Lineage Power).

The plant is expected to deliver 2.5 GWh of BESS per annum extendable to another 2.5GWh. BESS allows for the storage of excess energy generated from renewable sources, such as solar and wind, and releases it when demand is high, or supply is low. BESS can be employed in various settings, including residential homes, commercial buildings, and utility-scale applications, and operates through a systematic process of charging and discharging to manage electrical energy efficiently.

"The inauguration of our Bidadi facility is a pivotal moment in our journey," said Maddisetty Venugopal Rao, Chairman and Managing Director, Pace Digitek. "This facility not only enhances our manufacturing capabilities but also positions Pace Digitek and Lineage Power to be part of Government of India's drive towards enhancing renewable energy capacity."

In line with the Government of India's drive towards enhancing renewable energy capacity, the Company intends to provide sustainable BESS products.

"This facility represents our commitment to driving technological innovation and renewable energy solutions," added Mr. Rao. 

This landmark occasion was graced by several distinguished dignitaries, including:

• Shri Pralhad Joshi, Hon'ble Union Minister for Consumer Affairs and Renewable Energy Systems
• Shri K. J. George, Hon'ble Minister for Energy, Government of Karnataka
• Shri S. R. Mahesh, Hon'ble MLA, K.R. Nagar
• Shri T.D. Rajagowda, Hon'ble Chairman KREDL

Union Minister for New and Renewable Energy Pralhad Joshi, who inaugurated the battery storage unit, said that battery storage systems are crucial for achieving Atmanirbhar Bharat (self-reliant India).

"The central government is placing high priority on developing storage infrastructure to ensure that solar and wind power can be effectively utilized even during non-generation hours. Battery storage also offers immense investment potential, and I urge entrepreneurs to explore opportunities in this growing sector," he said.

He further added, "The first revolution in India was electricity, followed by television, and then the Internet and smart phones, which transformed our lives. Now, the next big change will come through battery storage systems, which will redefine how we consume and manage power. We are all set to witness this transformation."

Karnataka's Energy Minister K J George announced that battery storage systems must be installed in all solar power plants across the state in future.

"The solar power generated during the day must be stored for use at night. To achieve this, battery storage systems capable of storing at least two hours of solar power must be integrated into all solar power plants," George said.

He emphasised the importance of storage in strengthening renewable energy infrastructure.

"Renewable energy now contributes to 65 percent of Karnataka's total power generation. Although solar and wind energy production has grown significantly, effective storage systems are essential to capture this energy and supply it as needed. Storage ensures grid stability and enables better energy management, especially during periods of demand.

The central government is also promoting storage projects to support this effort, and it is encouraging to see private companies actively participating," he said.

Disclaimer:

Pace Digitek Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (DRHP) dated March 27, 2025 with the Securities and Exchange Board of India (SEBI). The DRHP is available on the website of SEBI at www.sebi.gov.in as well as on the website of the Book Running Lead Manager, Unistone Capital Private Limited at www.unistonecapital.com, the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see 'Risk Factors' of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.