PFC extends 50,200-cr financial aid to UP

PFC extends 50,200-cr financial aid to UP
Highlights

Power Finance Corporation Ltd (PFC) has signed Memoranda of Understanding (MoUs) with UP state sector power utilities -- UPRVUNL, UPPTCL and UPPCL. As part of the MoUs, PFC will extend financial assistance to the tune of Rs50,200 crore for upcoming greenfield and extension thermal generation projects at Jawaharpur, Panki, Harduagunj, Anpara, Obra, etc. 

Hyderabad: Power Finance Corporation Ltd (PFC) has signed Memoranda of Understanding (MoUs) with UP state sector power utilities -- UPRVUNL, UPPTCL and UPPCL. As part of the MoUs, PFC will extend financial assistance to the tune of Rs50,200 crore for upcoming greenfield and extension thermal generation projects at Jawaharpur, Panki, Harduagunj, Anpara, Obra, etc.

The funds will also be utilised for development of coal mines, Centre-sponsored schemes such as IPDS, Saubhagya, DDUGJY, etc, in addition to strengthen transmission and distribution (T&D) network in the State.

The financial assistance will support the UP state in capacity addition of 4,760 MW and in achievement of the objective of Power for All and 24x7 quality and reliable power supply in UP. The MoUs were executed for extending financial assistance to UP State Power utilities for a period of next four years with cumulative amount of Rs50,200 crore.

The MoUs were executed on the side lines of ‘UP Powering New India Investor Summit 2018’ recently held in Lucknow, in presence of Alok Kumar, Principal Secretary (energy), Rajeev Sharma, CMD of PFC, and other senior officials from state power utilities and PFC.

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