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 : Bank of Baroda - India’s second largest public bank, adopts ‘Make in India’ Switches to upgrade its banking infraThe 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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