PFC to lend Rs. 50,200 crore for power projects in UP.

Power Finance Corporation Ltd (PFC) has signed an agreement with the Uttar Pradesh government-controlled power companies for financing new and under-implementation projects in the State.

A company statement said the memorandum of understanding (MoU) is for a financial assistance of Rs. 50,200 crore for four years.

Thermal projects

These funds will come in handy for upcoming greenfield and extension of thermal Generation projects at Jawaharpur, Panki, Harduagunj, Anpara, and Obra among others.

The development of coal mines, Centrally sponsored schemes such as Integrated Power Development Scheme (IPDS), Saubhagya, Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), and strengthening of transmission and distribution network in Uttar Pradesh will also be aided by this amount.

The financial assistance will support the State in capacity addition of 4,760 MW, the statement added.

HBL