HomeBusiness ›PFC Inks MoU Worth INR 2.37 Lakh Crore with 19 Companies for Development of RE Projects

PFC Inks MoU Worth INR 2.37 Lakh Crore with 19 Companies for Development of RE Projects

The MoUs were inked with diverse companies indulged in solar, wind power, green hydrogen, battery storage, electric vehicles, and green energy equipment manufacturing, among others in the renewable energy sector.

July 24, 2023. By EI News Network

The Power Finance Corporation Ltd (PFC) has taken a crucial step towards stating itself as the primary funding agency for energy transition by executing Memoranda of Understanding (MoUs) worth over INR 2.37 lakh crore with 19 clean energy firms, both in the public and private sectors.

The MoUs were inked with diverse companies indulged in solar, wind power, green hydrogen, battery storage, electric vehicles, and green energy equipment manufacturing, among others in the renewable energy sector.

The listed companies comprise Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, and Rajasthan Renewable Energy.

As per PFC, these agreements highlight the company’s commitment to augmenting its energy transition portfolio and assisting India’s drive toward attaining its Energy Transition Goals.

PFC intends to finance multiple projects in the clean energy domain, such as offshore wind, pumped hydro storage, solar modules and cells, and more.

The company stands ready to avail longer-tenure funding at competitive rates, assuming larger exposures.

PFC has recently its loan portfolio, venturing into infrastructure projects including refineries, ports, roads, metro systems, biofuels, and waste-to-energy initiatives.
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