PFC and NHPC sign MoU agreement for hydropower development
PFC partnered with NHPC to lend funds for the development of hydro projects. Additionally, the PFC will provide funds for NHPC to acquire stressed projects
The Power Finance Corporation Ltd. (PFC) and NHPC Ltd. have signed a Memorandum of Understanding (MoU). PFC will provide funds to NHPC for the development of Hydro Projects under the agreement. The PFC will also assist NHPC through financing for the acquisition of stressed projects.
THe MoU was signed on 24th August 2021 between Shri Subir Saha, Executive Director (Projects- SR, ER&NER, CSP&C), on behalf of PFC and Shri V. K. Maini, ED (Strategy, BD & Consultancy) representing on behalf of NHPC Ltd.
Other dignitaries present during the signing of the MoU were Shri P. K. Singh, Director (Commercial) & Addl. Charge (Projects), PFC, Sh. R. R. Jha, (ED-In-charge Projects), Shri. Manoj Sharma, ED (L&D), Shri Praveen Verma, SGM (L&D) and Shri. Nitin Kumar, GM (Central Sector Unit), PFC.
With the signing of the MoU, PFC and NHPC will further cement their long-standing association and create transformational opportunities for both companies. In addition to facilitating knowledge and technology transfer, the association will contribute to sustainable development initiatives in the country.
The NHPC is a Schedule-A Miniratna Category-I CPSE that develops hydropower in India and has also ventured into the solar and wind energy sectors. A consultancy service is also offered by NHPC for hydropower projects and renewable energy projects.
Connect with Power Insight: Facebook | LinkedIn | Twitter
