Deals Counterparts

Pace Digitek secures contract for 250 MW solar and 250 MW / 1,100 MWh battery project

Development Solar|Battery Storage announced India Feb 10, 2026
EUR17750B
Deal Value
500 MW
Capacity
construction
Stage

Pace Digitek Limited has secured a contract from Karnataka Renewable Energy Development Limited (KREDL) for the construction of a 250 MWAC Solar PV plant integrated with a 250 MW / 1,100 MWh Battery Energy Storage System (BESS) at Pavagada Solar Park. The electricity generated and stored will be supplied at a tariff of Rs. 5.51 per unit.

Deal Analysis

Pace Digitek's contract with Karnataka Renewable Energy Development Limited (KREDL) to develop a 250 MWAC solar PV plant integrated with a 250 MW / 1,100 MWh Battery Energy Storage System (BESS) at Pavagada Solar Park represents a significant investment in renewable energy infrastructure in India. The project, which will supply electricity at a tariff of Rs. 5.51 per unit, highlights the growing trend of combining solar power generation with battery storage to provide more reliable and dispatchable renewable energy. Bondada Engineering will serve as the EPC contractor, while Power Grid Corporation of India and Karnataka Power Transmission Corporation Limited (KPTCL) will provide transmission services, indicating a collaborative effort between public and private entities to enhance grid stability and renewable energy integration. The project's location within the Pavagada Solar Park, a large-scale solar park in Karnataka, leverages existing infrastructure and demonstrates the state's commitment to renewable energy development. The integration of a substantial BESS component (1,100 MWh) is particularly noteworthy, as it addresses the intermittency challenges associated with solar power and enables the provision of power during peak demand periods. This project aligns with India's broader goals of increasing its renewable energy capacity and reducing its reliance on fossil fuels, while also contributing to grid modernization and energy security.
  • 250 MW solar PV plant integrated with a 250 MW / 1,100 MWh BESS, showcasing a significant investment in energy storage.
  • Project located within the Pavagada Solar Park, leveraging existing infrastructure.
  • Involvement of key players like Bondada Engineering (EPC), Power Grid Corporation of India and KPTCL (transmission) highlights a collaborative approach.
  • Tariff of Rs. 5.51 per unit indicates the competitive pricing of solar-plus-storage solutions.
Market Context: India's renewable energy sector is experiencing rapid growth, driven by government policies and declining technology costs. The integration of battery storage is becoming increasingly important to address the intermittency of solar and wind power and ensure grid stability. Karnataka is a leading state in renewable energy development, with significant investments in solar parks and other renewable energy projects.

Source Intelligence

KEY DETAILS

The contract will be executed within 18 months from the signing of the Power Purchase Agreement (PPA) or the Battery Energy Storage Purchase Agreement. Pace Digitek emphasized that there is no involvement of its promoter group or related companies in the awarding entity. The company confirmed that the transaction is conducted at arm’s length and does not fall under related party transactions.

Deal Size
The total project cost is estimated at Rs. 17,750 million, including GST.
Capacity
The project entails the construction of a 250 MWAC Solar PV plant integrated with a 250 MW / 1,100 MWh Battery Energy Storage System (BESS)
Location
at Pavagada Solar Park, one of India’s largest solar hubs.
PPA Details
The project is expected to operate for 25 years, in line with the terms specified in the Request for Selection (RfS) and PPA. The electricity generated and stored will be supplied at a tariff of Rs. 5.51 per unit.
Announcement
The development was disclosed in a regulatory filing dated February 10, 2026.
PARTIES MENTIONED IN SOURCE
P
Pace Digitek Limited developer

"Pace Digitek Limited has secured a significant renewable energy contract from Karnataka Renewable Energy Development Limited (KREDL)"

K
Karnataka Renewable Energy Development Limited (KREDL) buyer

"Pace Digitek Limited has secured a significant renewable energy contract from Karnataka Renewable Energy Development Limited (KREDL)"

high quality Enriched Feb 19, 2026

Timeline

Announced
Feb 10, 2026
Signed
Closed

Market Context

This deal is part of the Solar|Battery Storage sector in India.
12
Solar|Battery Storage deals
156
deals in India
1 of 12 Solar|Battery Storage deals tracked this month · Updated daily

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