State-run Power Finance Corporation (PFC) on Wednesday said that it has signed a Memorandum of Understanding (MoU) for providing financial support for renewable energy (RE) projects of 12,178 megawatt (MW) capacity.
The projects also include a 660 MW thermal generation plant. The estimated cumulative project cost is around ₹1,18,826 crore, the power sector lender said.
PFCs financial support in form of term loan is tentatively proposed to range from ₹80,000 crore to ₹90,000 crore, demonstrating a substantial commitment to the realisation of these vital projects, it added.
The RE projects include setting up of solar power, wind power and pumped hydro units.
Notably, these funds may be further increased to accommodate the specific requirements of the renewable energy projects, emphasizing the adaptability of this partnership to evolving project needs.
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This collaborative effort between PFC and state-controlled hydro power producer SJVN underscores their shared commitment to fostering sustainable, clean energy solutions for India’s future.
By facilitating the development of renewable energy and thermal generation projects on the large scale, both entities are poised to contribute significantly to India’s energy security and environmental sustainability.