PFC signs MoU with SJVN for Rs 1,188.26 billion financing for renewable and thermal projects

PFC Limited has signed a MoU with SJVN Limited to offer financial assistance for a number of projects, encompassing a 660 MW thermal generation project and three sizable renewable energy projects with a combined capacity of 12,178 MW, including solar, hydro, and pumped storage. The total project cost is expected to be around Rs 1,188.26 billion.

PFC has committed to provide financial assistance for these important projects in the form of a term loan in the range of Rs 800 billion to Rs 900 billion. These funds may be expanded further to satisfy the particular demands of the renewable energy projects, highlighting the partnership’s flexibility in response to changing project requirements. This partnership between PFC Limited and SJVN Limited demonstrates their shared dedication to promoting clean, sustainable energy options for India’s future. Both organizations will make a significant contribution to the country’s energy security and environmental sustainability by enabling the construction of large-scale clean energy and thermal production projects.

In August 2023, SJVN Green Energy Limited (SGEL) bagged an order from Assam Power Distribution Corporation Limited to set up three solar power plants with cumulative capacity of 320 MW.

In the same month, SGEL secured Omkareshwar floating solar project with a capacity of 90 MW at a tariff of Rs 3.79 per kWh in Madhya Pradesh.