At the 4th Global RE-INVEST Summit, Adyant Enersol, a subsidiary of Datta Infra, announces a ₹1,500 crore funding agreement with REC Limited to create 500 MW renewable energy projects.

Adyant Enersol Private Limited, a wholly owned subsidiary of Datta Infra, has signed a strategic Memorandum of Understanding (MoU) with REC Limited, a ‘Maharatna’ firm under the Ministry of Power, Government of India. The company has inked an MOU with REC to receive ₹1,500 crore in finance for 500 MW of renewable energy projects. Datta Infra will develop 2 GW of Wind, Solar, and Wind-Solar Hybrid projects across the country following the signing of this MoU. The Memorandum of Understanding was signed at the 4th Global RE-INVEST Summit in Gujarat. It is a critical milestone in the company’s efforts to drive India’s green energy revolution.

Renewable energy projects will be installed in states like as Rajasthan, Madhya Pradesh, and Andhra Pradesh. Such projects are planned to provide 800-900 million units (MU) of renewable energy per year, providing stable and clean power from a combination of solar and wind resources. The projects are planned to be completed within 18 to 24 months of signing the Power Purchase Agreement (PPA).

Varchasvi Gagal, CEO and Managing Director of Datta Infra, comments on the proposal., “Datta Infra aims to become front runners in the renewable energy sector. By adding 2 GW of renewable energy projects across the country in the next 2-3 years, we shall help scale up India’s renewable energy capacity, aligning with the Viksit Bharat vision of the Government of India for a sustainable future.  The MoU is aimed at enhancing renewable energy capacity and will serve as a cornerstone for India’s clean energy transition.  The association will deliver economic, social, and environmental benefits, making a substantial impact on India’s renewable energy landscape resulting in renewable energy capacity expansion, creating jobs, reducing carbon emissions, enhancing infrastructure, and fostering innovation.”

Datta Power also intends to strengthen its position in the Independent Power Producer segment, with a focus on supporting renewable transition, enhancing growth and innovation, leveraging policies for India’s renewable electrification initiatives, and mitigating climate change through its wind, solar, and wind-solar hybrid projects. Datta Infra now offers total energy solutions, including transmission line engineering, procurement, construction, and maintenance, as well as solar and wind parks. Between 2020 and 2024, the corporation experienced tremendous expansion, executing projects reaching 5,600 MW and culminating in a 6 GW Ultra Mega Park in 2024.

The MOU was signed by Vivek Kumar Dewangan, Chairman & Managing Director of REC Limited; Saurabh Rastogi, Executive Director of REC Limited; Arun Chaturvedi, GM-RE Division of REC Limited; Harsh Baweja, Director Finance of REC Limited; Hemank Sindhu, Director of Adyant Enersol Private Limited; Rajeev Kumar Bansal, CFO of Datta Power Infra Private Limited; and Shubham Roy, Head of Business Development & Regulatory at Datta Power Infra Private Limited.

For more information, visit: https://dattainfra.com/