SJVN & PFC in pact to finance projects worth Rs 1.19 lakh crore

New Delhi: Power Finance Corporation Ltd (PFC) and SJVN Ltd have signed a memorandum of understanding for financing renewable and thermal energy projects worth ₹1,18,826 crore having a total capacity of 12,178 MW.

PFC will fund around 67-76% of the project tentatively, the state-owned company said on Wednesday. “PFC’s financial support in the form of term loan is tentatively proposed to range from ₹80,000 crore to ₹90,000 crore, demonstrating a substantial commitment to the realisation of these vital projects,” it said.

The renewable energy ventures would include solar, hydro, and pumped storage projects.

The funds may be increased later to accommodate the specific requirements of the projects, the company said. This is over PFC’s memoranda of understanding with major clean energy companies in July where it signed pacts worth ₹2.37 lakh crore with 19 companies in the clean energy space.

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