Hydro projects: PFC inks MoU with NHPC to lend funds

New Delhi: Power Finance Corporation Limited (PFC) has signed a memorandum of understanding (MoU) with NHPC Limited to lend funds for the development of hydro projects by NHPC. PFC Ltd will also provide financial assistance for the acquisition of stressed projects.

NHPC Limited is engaged in the development of hydropower in India and has also diversified into solar and wind power. NHPC also provides consultancy services to Hydro Power and Renewable Energy Projects.

PFC's Executive Director (Projects- SR, ER & NER, CSP & C) Subir Saha signed the MoU on behalf of PFC while NHPC Limited's Executive Director (Strategy, BD & Consultancy) VK Maini signed on behalf of NHPC Limited on Tuesday. The MoU was signed in the presence of PFC's Director (Commercial) PK Singh, PFC's Executive Director (Projects, in-charge) RR Jha, Manoj Sharma, SGM (L&D) Praveen Verma and General Manager (Central Sector Unit) Nitin Kumar.

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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