Power Finance Corporation Ltd. (PFC) has signed a Memorandum of Understanding (MoU) with NHPC to lend funds for the development of Hydro Projects by NHPC.
PFC will also provide financial assistance for the acquisition of stressed projects.
NHPC, a Schedule-A Miniratna Category-I CPSE, is engaged in the development of hydropower in India and has also diversified into Solar & Wind Power.
NHPC also provides consultancy services to Hydro Power and Renewable Energy Projects.
Subir Saha, Executive Director (Projects- SR, ER&NER, CSP&C), signed the MoU on behalf of PFC while V. K. Maini, ED (Strategy, BD & Consultancy) signed on behalf of NHPC Ltd..
The MoU was signed in the presence of P. K. Singh, Director (Commercial) & Addl. Charge (Projects), PFC, R. R. Jha, (ED-In-charge Projects), Manoj Sharma, ED (L&D), Praveen Verma, SGM (L&D) and 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.