With a view to expand NHPC Limited’s energy portfolio in hydroelectric power project development and acquisition of assets, a memorandum of understanding was signed on Aug. 24 between NHPC and Power Finance Corporation Limited (PFC).
The MoU was signed by Shri V. K. Maini, Executive Director, NHPC and Shri Subir Saha, Executive Director, PFC. This occasion was graced by Shri Praveen Kumar Singh, Director (Commercial), along with senior officers of PFC and senior officers of the strategy, business development and consultancy department of NHPC.
As per the MoU, PFC shall provide financial assistance to the projects being developed/to be developed by NHPC (particularly projects under joint venture route) and shall also support NHPC’s participation in various bids by providing the financial commitment required for taking over the stressed projects, on a case-by-case basis.
Additionally, NHPC will provide expert advice on ongoing hydro projects funded by PFC. NHPC will also undertake operations and maintenance activities of hydroelectric projects taken over by PFC. This MoU will facilitate knowledge and technology transfer toward sustainable development of green energy projects.
NHPC is a Category-A Miniratna Company under Ministry of Power, Govt. of India in the field of hydropower. NHPC has 24 operational power stations with a total installed capacity of 7,071 MW.
PFC is a power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.