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Global Investors Summit 2023: PFC signs MOU with Andhra Govt. for Power projects

Vishakhapatnam: Power Finance Corporation Ltd. (PFC), a power sector Maharatna, has signed a Memorandum of Understanding (MoU) in Vishakhapatnam during the first day of Global Investors Summit 2023 hosted by Govt. of Andhra Pradesh.  The MoU envisages providing financial assistance for projects in Power & allied sectors and Infrastructure projects in the State of Andhra Pradesh for development & economic growth in the State.  Presently the envisaged funding for generation, transmission, distribution and infrastructure projects is approx. Rs. 36,000 crores.

The MoU was signed by CMD Ravinder Singh Dhillon and Mr. Sagili Shan Mohan (IAS), MD, APMIDCL, on behalf of Government of AP (GoAP), in the presence of state Energy Minister Peddireddy Ramachandra Reddy, K. Vijayanand, IAS, Special Chief Secretary (Energy), Mr. Rajiv Ranjan Jha, Director (Projects), PFC, Smt. Shehla Sadaf, General Manager (Projects), PFC along with other senior officials of GoAP & PFC.

The MoU underlines the PFC’s commitment towards playing a pivotal role in powering the nation’s aspirational journey towards a sustainable future.

PFC has been a partner in the continuous growth and development in the State with a cumulative sanction of about Rs.86000 crore and cumulative disbursement of about Rs. 66,000 crores to the State Utilities of AP.

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