Adyant Enersol Pvt Ltd, a wholly-owned subsidiary of Datta Power Infra, has announced a strategic MoU with REC Ltd envisaging Rs.1,500-crore financing from REC, for the development of 500 MW of renewable energy projects.
Signing of this MoU sets the foundation for the development of 2 GW of wind, solar, and wind-solar hybrid projects across the country, by Datta Infra. The MoU was signed at the 4th Global RE-INVEST Summit, at Gujarat.
The renewable energy projects shall be installed in the states of Rajasthan, Madhya Pradesh, Andhra Pradesh, etc. Such projects are expected to generate 800-900 million units (MU) of clean energy annually, offering reliable and clean power, through a mix of solar and wind resources. The projects are expected to be completed within 18 to 24 months from the date of signing the PPA (Power Purchase Agreement).
Frontrunners in RE
Commenting on the initiative, Varchasvi Gagal, CEO & Managing Director, Datta Power Infra, stated, “Datta Infra aims to become frontrunners in the renewable energy sector. By adding 2 GW of renewable energy projects across the country in 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, create jobs, reduce carbon emissions, enhance infrastructure, and foster innovation.”
IPP segment
Datta Power Infra also plans to consolidate its presence in the Independent Power Producer segment, with a commitment to supporting renewable transition, enhance growth and innovation, leverage policies for India’s renewable electrification initiatives and mitigate climate change, through its wind, solar, and wind-solar hybrid projects. Currently, Datta Infra provides comprehensive energy solutions through engineering, procurement, construction, and maintenance for transmission lines, solar parks, and wind parks. Between 2020 and 2024, the company has witnessed remarkable growth, completing projects totaling 5,600 MW and culminating in a 6-GW ultra mega park in 2024.
Featured photograph shows the MoU signatories that included Vivek Kumar Dewangan, Chairman & Managing Director, REC (fourth from left); Saurabh Rastogi, Executive Director, REC; Arun Chaturvedi, GM-RE Division, REC; Harsh Baweja, Director Finance, REC; Hemank Sindhu, Director, Adyant Enersol Pvt Ltd (third from right); Rajeev Kumar Bansal, CFO, Datta Power Infra; and Shubham Roy, Head of Business Development & Regulatory, Datta Power Infra.
