New Delhi: Power Finance Corporation Ltd. (PFC), a prominent NBFC in the power sector and a Maharatna CPSE, has entered into a Memorandum of Understanding (MoU) with the Government of Gujarat (GoG).

The primary aim of this agreement is to offer comprehensive financial support for the state’s power generation, transmission, and distribution projects. Parminder Chopra, CMD PFC, and Jai Prakash Shivhare, MD (GUVNL), signed the MoU in the presence of key officials, including Chief Minister Bhupendra Patel.

This collaboration, with a significant commitment of Rs. 25,000 Crore, is poised to empower projects undertaken by various entities, fostering long-term debt and critical funding for Gujarat’s power initiatives. The partnership also foresees the creation of 10,000 jobs in the state, reinforcing PFC’s dedication to enhancing the power infrastructure and supporting Gujarat’s ambitious plans in the sector.

The signed MoU in Gandhinagar marks a pivotal moment, symbolizing a collective commitment to a future of reliable, sustainable, and accessible power for the people of Gujarat.

This story has been sourced from PIB.