PFC in pact with NHPC to lend funds for hydro projects, acquisitions

Power Finance Corp (PFC) on Tuesday announced signing a Memorandum of Understanding (MoU) with NHPC Ltd to lend funds for the development of hydro projects and acquisition of stressed projects.

NHPC, a Schedule-A Miniratna Category-I CPSE, is engaged in development of hydropower in India and has also diversified into solar and wind power. NHPC also provides consultancy services to hydro power and renewable energy projects.

“The signing of the MoU will further bolster the long-standing association between PFC and NHPC and will herald a transformational opportunity between the two organisations. The association will also serve to facilitate knowledge and technology transfer, contributing to sustainable development initiatives in the country,” an official statement said.