PFC funds 225 MW projects
Power Finance Corporation (PFC) has entered into an agreement with state-owned Narmada Basin Projects Company Ltd (NBPCL) to fund projects worth Rs.22,000 crore for 225 MW hydro-electric projects and multipurpose projects in Madhya Pradesh.
Using the funds, NBPCL will set up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in the state.
The MoU was signed on a virtual platform by Rajeev Sharma, CMD, PFC and I.C.P. Keshari, Managing Director, NBPCL, said Power Ministry on 26 May 2020.
The Madhya Pradesh Government completed these projects’ pre-feasibility study. The disbursal of the amount will be linked to the execution of the projects.
The MoU will help PFC to actively partner with NBPCL and provide finance for hydro-electric plants totaling 225 MW along with power components of multipurpose projects as part of state government’s endeavor to implement twelve major multipurpose projects.
Some of the major multipurpose projects that will be financed under the MoU are Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad.
PFC will consider the financial assistance to NBPCL based on due diligence and on mutually acceptable terms. fiinews.com
