Power Finance Corporation (PFC) and SJVN Ltd on Wednesday (20.09.2023) formalized a Memorandum of Understanding (MoU) aimed at extending financial support to SJVN Ltd’s diverse project portfolio. This portfolio encompasses a wide array of projects, with a particular emphasis on Renewable Energy and thermal generation initiatives, collectively valued at Rs 1.18 lakh crore. The combined capacity of these projects totals 12,178 MW, with an additional 660 MW thermal generation project included in the mix.
The MoU outlines that the term loan financial assistance is provisionally set at 70% of the project cost, with the possibility of increasing this allocation for renewable energy projects as dictated by project-specific requirements.
The signing of the MoU took place between Manoj Sharma, Director (Commercial) of PFC, and Akhileshwar Singh, Director (Finance) of SJVN, reaffirming their shared commitment to this collaboration.
PFC’s financial support, provided in the form of term loans, is tentatively projected to range from Rs 80,000 crore to Rs 90,000 crore, demonstrating a substantial commitment to realizing these pivotal projects. Importantly, these funds remain flexible and may be further augmented to accommodate the specific needs of renewable energy projects, highlighting the adaptability and responsiveness of this partnership to evolving project requirements.
This collaborative endeavor between PFC and SJVN underscores their joint dedication to fostering sustainable and clean energy solutions, furthering India’s aspirations for a greener future.
