Datta Power Infra arm signs pact with REC for Rs 1,500 crore financing

New Delhi: Datta Power Infra on Monday said its arm Adyant Enersol has signed an agreement with state-owned REC for Rs 1,500 crore financing for 500 MW renewable energy projects.

The memorandum of understanding (MoU) was signed at the recently concluded at the 4th Global RE-INVEST Summit in Gujarat, Datta Power Infra Private Limited (DPIPL), said in a statement.

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"The MOU has been signed for Rs 1,500 crore financing from REC for the development of 500 MW of renewable energy projects of the company," the statement said.

The renewable energy projects shall be installed in the states of Rajasthan, Madhya Pradesh, Andhra Pradesh, etc.

The projects are expected to generate 800-900 million units (MU) of clean energy annually.

The projects are expected to be completed within 18 to 24 months from the date of signing the PPA (Power Purchase Agreement).

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