Datta Power Infra's Arm signs Financing Agreement with REC For Renewable Projects
The memorandum of understanding was signed at the recently concluded at 4th Global RE-INVEST Summit in Gujarat, Datta Power Infra Private Ltd, said in a statement.
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 was signed at the recently concluded at 4th Global RE-INVEST Summit in Gujarat, Datta Power Infra Private Ltd, said in a statement.
"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.
Read Also : REC secures $500 million through 5-year bond saleThe 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 of clean energy annually and are expected to be completed within 18 to 24 months from the date of signing the Power Purchase Agreement.
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