PFC Signs MoU Worth ₹2.37 Lakh Crore With 20 Companies In Clear Energy Space

PFC Signs MoU Worth ₹2.37 Lakh Crore With 20 Companies In Clear Energy Space

These MoUs highlight PFC's commitment to consistently increase its energy transition portfolio and steer Nation's drive of Energy Transition Goals.

FPJ Web DeskUpdated: Friday, July 21, 2023, 04:54 PM IST
article-image
PFC Signs MoU Worth ₹2.37 Lakh Crore With 20 Companies In Clear Energy Space | Wikipedia

As part of its plan to position itself as the focal funding agency for energy transition, the Power Finance Corporation Limited, executed various Memoranda of Understanding of more than ₹2.37 lakh crore with 20 companies both in public and private sector, the company announced through an exchange filing.

These MoUs were signed with solar, wind power, green hydrogen, battery storage, electric vehicle companies as well as manufacturers of green energy equipment among others in the clean energy space. Adani, Geenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering and Infrastructure Limited, Rajasthan Renewable Energy were some of the companies with whom PFC signed the MoU.

These MoUs highlight PFC's commitment to consistently increase its energy transition portfolio and steer Nation's drive of Energy Transition Goals. The MoU assumes significance in the backdrop of ongoing deliberations on energy transition under India's G20 presidency.

PFC enjoys the unique advantage of providing funds for longer tenure at competitive rates and taking larger exposures. PFC is looking to fund projects like offshore wind, pumped hydro storage, solar modules and cells, among others in the clean energy space.

The MoU was exchanged in the presence of Parminder Chopra, Director (Finance) and CMD (Addl. Charge), PFC, Rajiv Ranjhan Jha, Director (Projects) and Manoj Sharma, Director (Commercial) at an event held on the sidelines of G20 summit in Goa.

PFC recently diversified its loan portfolio by foraying into infrastructure projects such as refineries, roads, ports, metro, biofuels, waste to energy etc.

RECENT STORIES

IndiGrid Raises ₹670 Cr Via Institutional Placement

IndiGrid Raises ₹670 Cr Via Institutional Placement

India's GDP Growth Is Reflection Of Transformative Reforms Of Last 10 years, Says PM Modi

India's GDP Growth Is Reflection Of Transformative Reforms Of Last 10 years, Says PM Modi

HDFC Life Allots Equity Shares To Employees As Stock Options

HDFC Life Allots Equity Shares To Employees As Stock Options

Zerodha Founders Kamath Brothers' Compensation Touched ₹200 Cr In FY23

Zerodha Founders Kamath Brothers' Compensation Touched ₹200 Cr In FY23

Gold, Silver Prices On December 9; Check Prices In Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Prices On December 9; Check Prices In Mumbai, Delhi, Chennai, Kolkata