Power Finance Corporation Ltd (PFC) and SJVN Ltd have signed a memorandum of understanding for financing renewable and thermal energy projects worth ₹1,18,826 crore having a total capacity of 12,178 MW.
AC Gaze
Power Finance Corporation (PFC) has inked a memorandum of understanding (MoU) with state-owned hydro power firm SJVN Ltd, committing to finance the latter's renewable energy and thermal power projects. The deal is valued at Rs 1.18 trillion and aims to set up 12 gigawatt (Gw) of power generation capacity, predominantly from renewable sources such as solar, wind, and pumped hydro, along with a 660 megawatt thermal power project. The financial backing from PFC is expected to range between Rs 80,000 crore and Rs 90,000 crore, displaying a significant commitment to these crucial projects. According to a PFC statement, this funding could be augmented to meet the specific needs of the renewable projects, highlighting the flexibility of the partnership.
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