Power Finance Corporation (PFC) has signed a Memorandum of Understanding (MoU) with NHPC to lend funds for development of hydropower projects by NHPC. PFC will also provide financial assistance for acquisition of stressed projects.  

NHPC, a Schedule-A, Miniratna Category-I Central public sector enterprise (CPSE), is engaged in development of hydropower in India and has also diversified into solar and wind power. NHPC also provides consultancy services to hydropower and renewable energy projects. 

Subir Saha, the executive director (projects – SR, ER & NER, CSP & C), signed the MoU on behalf of PFC, while V K Maini, the executive director (strategy, BD & consultancy), signed the agreement on behalf of NHPC on August 24. The MoU was signed in the presence of P K Singh, director (commercial) and additional charge (projects), PFC, R R Jha, the ED-in-charge projects, Manoj Sharma, ED (L&D), Praveen Verma, SGM (L&D), and Nitin Kumar, GM (central sector unit), PFC. 

The MoU will further bolster the long-standing association between PFC and NHPC and will herald a transformational opportunity between the two organisations. The association will also serve to facilitate knowledge and technology transfer, contributing to sustainable development initiatives in the country, a media release from PFC has said.