Gandhinagar: Power Finance Corporation Ltd. (PFC), a Maharatna Central Public Sector Enterprise (CPSE) specialising in the power sector, has formalised an MoU with the Government of Gujarat (GoG). The agreement aims to provide extensive financial support for the state’s power generation, transmission, and distribution initiatives.
The MoU, signed by Parminder Chopra, CMD PFC, and Jai Prakash Shivhare, MD (GUVNL), in the presence of CM Bhupendra Patel, will support projects led by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Paschim Gujarat Vij Company Ltd (PGVCL), and Uttar Gujarat Vij Company Ltd (UGVCL).
The MoU outlines a financial commitment of Rs. 25,000 crore dedicated to powering various projects across Gujarat and is estimated to generate 10,000 jobs to be created in the state.
The collaboration is expected to address long-term debt and critical funding requirements essential for the successful execution of diverse projects. The financial assistance provided will contribute to the expansion of power infrastructure in Gujarat, aligning with PFC’s commitment to energy sustainability and efficiency.
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