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PFC in pact with NHPC to lend funds for the development of hydro projects

To also, provide funds for NHPC’s acquisition of stressed projects

New Delhi: Power Finance Corporation Ltd. (PFC) signed a Memorandum of Understanding (MoU) with NHPC Ltd. to lend funds for the development of Hydro Projects by NHPC. PFC will also provide financial assistance for the acquisition of stressed projects.

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NHPC, a Schedule-AMiniratna Category-I CPSE, is engaged in development ofhydropower in India and has also diversified into Solar & Wind Power. NHPC also providesconsultancy services to Hydro Power and Renewable Energy Projects.

Shri Subir Saha, Executive Director (Projects- SR, ER&NER, CSP&C), signed the MoU on behalf of PFC while Shri V. K. Maini, ED (Strategy, BD & Consultancy) signed on behalf of NHPC Ltd.on 24th August 2021. The MoU was signed in the presence of 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.

The signing of the MoU will further bolster the long-standing association between PFC and NHPC and will herald a transformational opportunity between the two organizations. The association will also serve to facilitate knowledge and technology transfer, contributing to sustainable development initiatives in the country.

 

 

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