Power Finance Corporation (PFC) has agreed to give loans of Rs 1, 18826 crore to Satluj Jal Vidyut Nigam (SJVN) to finance solar, thermal and hydro & pumped storage power projects.

Chairman –cum- Managing Director of the SJVN Nand Lal Sharma said, “The PFC and the SJVN have signed a memorandum of understanding (MOU) under which the PFC would finance diversified projects from renewable sources of energy by giving a term loan proposed at 70 percent of the project cost.”

The MOU was signed in the presence of Chairman –cum- Managing Director of PFC Parminder Chopra and CMD of SJVN Nand Lal Sharma.

The SJVN has signed MOU’s with several power companies for developing power projects based on renewable sources of energy taking a major stride in achieving the goal of 50 percent installed capacity from no-fossil fuels by 2030 .

Sharing is caring!