Redguard Unity is an open source project that intends to port The Elder Scrolls Adventures: Redguard to the Unity game engine.
In many ways, it has similar goals to Daggerfall Unity, and aims for an equally faithful recreation of the original game in a new engine, but with several modernizations and improvements.
Despite the similar names, it is made by a different team than Interkarma's Daggerfall Unity.
For more details visit the wiki.
This project is still in the earliest stages, far away from even being considered an "alpha". The current release(s) only show some remade gameplay mechanics in an isolated test scene.