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 Climate Change

Energy
Published on: Sept. 1, 2021, 12:31 p.m.
NHPC, PFC join hands to develop hydropower projects
  • The MoU will facilitate the transfer of knowledge and technology for the long-term development of Green Energy Projects

By Business India Editorial

An MoU was signed on August 24, 2021 between NHPC Limited and PFC (Power Finance Corporation) Ltd to expand NHPC's Energy Portfolio in Hydroelectric Power Project Development and Asset Acquisition through NCLT. VK Maini, Executive Director (SBD & C), NHPC, and Subir Saha, Executive Director (Projects - SR, ER & NER, CSP & C), PFC signed the MoU. Praveen Kumar Singh, Director (Commercial), as well as senior officers of PFC and senior officers of NHPC's Strategy, Business Development and Consultancy Department, graced the occasion.

According to the MoU, PFC will provide financial assistance to the projects being developed and those to be developed by NHPC, particularly projects under the joint venture route. It will also support NHPC by participating in various bids and by providing the financial commitment required for taking over any stressed projects on a case-by-case basis.

According to the agreement, NHPC will provide expert advice on the ongoing PFC-funded hydro projects. NHPC will also be in charge of the operation and maintenance of hydroelectric projects taken over by PFC. This Memorandum of Understanding will facilitate the transfer of knowledge and technology for the long-term development of Green Energy Projects


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