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PFC spreads its wings into Clean Energy space with MoUs worth ₹ 2.37 Lac Crores

The Maharatna PSU is looking to fund projects like offshore, wind, pumped hydro storage, solar modules and cells, among others in the Clean Energy Space.

New Delhi: With a view to position itself as the focal funding agency for energy transition into Cleaner Power, the Power Finance Corporation Ltd (PFC), executed various Memoranda of Understanding (MoU) worth more than ₹ 2.37 lac crores with 20 companies both in public and private sector. These MoUs 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. Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, Rajasthan Renewable Energy were some of the companies with whom PFC signed the MoUs. Thus PFC occupies a prime place as a  financier of Energy Transition in India and these MoUs highlight PFC’s commitment to consistently increase its energy transition portfolio and steer Nation’s drive of Energy Transition Goals.

“The MoUs assume significance in the backdrop of ongoing Global deliberations on energy transition under India’s G20 presidency” according to company press release.

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 i.e., Zero Carbon emission projects.

The MoU were exchanged in the presence of Smt. Parminder Chopra, Director (Finance) & CMD (Addl. Charge), and Rajiv Ranjan Jha, Director (Projects) and Manoj Sharma, Director (Commercial) at an event held on the side lines of G20 summit in Goa.

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

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