Alliance to usher in new era of energy sustainability and efficiency in the State, says Ministry
Power Finance Corporation Ltd (PFC) is to provide comprehensive financial backing for Gujarat’s power generation, transmission, and distribution projects worth Rs.25,000 crore.
PFC is committed to bolstering the power infrastructure in the region and supporting the state’s ambitious initiatives in the power sector under an MoU signed with the Government of Gujarat in Gandhinagar on 3 Jan 2024.
The MoU marks a significant step towards bolstering various projects undertaken by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Paschim Gujarat Vij Company Ltd (PGVCL), and Uttar Gujarat Vij Company Ltd (UGVCL).
The collaboration is set to facilitate long-term debt and other critical funding necessities vital for executing these diverse projects, said the Power Ministry.
“This strategic alliance is anticipated to usher in a new era of energy sustainability and efficiency in Gujarat, setting the stage for transformative changes and catalysing the state’s vision for a robust and reliable power infrastructure,” it said. fiinews.com
