PFC ventures into clean energy space; Inks MoU of over ₹ 2.37 lakh crore with 20 companies

New Delhi: The state-run Power Finance Corporation (PFC) on Friday signed a number of Memoranda of Understanding (MoU) of more than ₹ 2.37 lakh crore with 20 companies both in public and private sectors. 

These MoU were exchanged in the presence of PFC CMD Parminder Chopra; Rajiv Ranjan Jha, Director (Projects) and Manoj Sharma, Director (Commercial) at an event held on the sidelines of G20 summit in Goa.

These MoU assume significance in the backdrop of ongoing deliberations on energy transition under India’s G20 presidency.

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These MoU were signed with Solar, Wind Power, Green Hydrogen, Battery Storage, Electric Vehicle companies as well as the manufacturers of green energy equipment among others in the clean energy space, reports Dynamite News correspondent. 

Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, Rajasthan Renewable Energy were some of the companies with whom PFC signed the MoU. 

PFC is a leading financier of Energy Transition in India and these MoU highlight PFC’s commitment to consistently increase its energy transition portfolio and steer Nation’s drive of Energy Transition Goals. 

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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.

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

• #New Delhi
• #Goa
• #PFC
• #Power Finance Corporation
• #G20
• #Clean Energy Space
• #Parminder Chopra
• #business