Power Finance Corporation (PFC) and SJVN Ltd. have signed a Memorandum of Understanding (MoU) to provide financial support for multiple large-scale projects, including renewable energy initiatives (solar, hydro, and pumped storage) with a combined capacity of 12,178 MW, as well as a 660 MW thermal generation project. The estimated cost for these projects is approximately ₹1,18,826 crore.
The MoU was signed by Shri Manoj Sharma, Director (Commercial) of PFC, and Shri Akhileshwar Singh, Director (Finance) of SJVN, in the presence of Smt. Parminder Chopra, CMD of PFC; Shri Nand Lal Sharma, CMD of SJVN; and Smt. Geeta Kapur, Director (Personnel) of SJVN. Senior officials, including Shri H.K. Das, ED (Projects); Shri V. Packirisamy, ED (Entity Appraisal); and Shri Nitin Kumar, HOU (Projects-CSP), were also present at the event.
PFC’s financial assistance is projected to range between ₹80,000 crore and ₹90,000 crore in the form of term loans. The arrangement also allows for potential increases in funding to accommodate the evolving needs of the renewable energy projects, showcasing the partnership’s flexibility.
This collaboration highlights the shared vision of PFC and SJVN to advance sustainable and clean energy solutions for India. By supporting the development of both renewable and thermal energy projects on such a significant scale, the partnership aims to contribute meaningfully to India’s energy security and environmental sustainability goals.