Latest News | Datta Power Infra Arm Signs Pact with REC for Rs 1,500 Cr Financing

New Delhi, Sep 23 (PTI) 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.

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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).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)