PFC & NEDO collaborate to promote energy efficient technologies for a sustainable future

PFC & NEDO collaborate to promote energy efficient technologies for a sustainable future

FPJ BureauUpdated: Friday, January 12, 2024, 03:09 PM IST
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Power Finance Corporation Ltd (PFC), India's leading financial institution in the power sector, is pleased to announce a strategic collaboration with New Energy and Industrial Technology Development Organization (NEDO), Japan's pioneering agency for promoting environmental, energy and industrial technology innovation. Together, PFC & NEDO aim to disseminate the outcome of the demonstration project on “Micro Sub-station with Power Voltage Transformer”. This project is aimed at realizing environment friendly power supply in the areas with undeveloped distribution network, which is being implemented between Nissin Electric Company Limited (NISSIN) and Tata Power Delhi Distribution Limited (TPDDL).

This is in continuation with the partnership entered by PFC on the side lines of G20 summit at Goa in July, 2023 with Asia Transition Finance Study Group (ATFSG). ATFSG is an initiative under the Asia Energy Transition Initiative (AETI) by Japanese Ministry of Economy, Trade and Industry (METI) for promoting sustainable transition finance for Asian Countries.

The collaborative initiative between PFC and NEDO and Japanese stakeholders represents a significant leap towards creating environmentally friendly power supplies in areas with undeveloped distribution networks. This initiative will showcase optimization of energy distribution and consumption through energy efficient technology and sustainable practices. PFC, being the lead institution driving India’s energy transition, this initiative will be another step forward in this direction.

On this occasion, a letter of Intent was exchanged between Parminder Chopra, CMD, PFC and Mr. Naohiko Yokoshima, President, NEDO in the presence of Mr Rajiv Ranjan Jha, Director (Projects), Mr. Manoj Sharma, Director (Commercial) and other seniors Officials from NEDO, Embassy of Japan in India, PFC, JBIC, NISSIN, TPDDL and SEI Trading.

CMD, PFC and President, NEDO expressed pleasure about this development and said that our shared vision for environmentally friendly power supplies aligns seamlessly with our commitment to advancing technological solutions for a greener future. Together, we aim to set new technologies in energy efficiency and environmental sustainability.

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