PFC inks pact to provide Rs 26,800 crore finance to MP power utilities

State-owned Power Finance Corporation on Thursday said that it has inked an initial pact to provide Rs 26,800 crore finance to power utilities of Madhya Pradesh.

This funding will support capital expenditure projects for entities such as Madhya Pradesh Power Generation Company Ltd (MPPGCL), Madhya Pradesh Power Transmission Company Ltd (MPPTCL), and MP discoms (distribution companies), PFC said in a statement.

Power Finance Corporation (PFC) has signed a Memorandum of Understanding (MoU) with the government of Madhya Pradesh to extend financial assistance of Rs 26,800 crore to the state's power utilities, the statement said.

The financial assistance will be directed towards crucial infrastructure projects, including the development of new supercritical thermal units, solar power plants, renovation and modernisation of hydropower stations, power evacuation networks, smart metering, and loss reduction initiatives under the Revamped Distribution Sector Scheme (RDSS), ensuring energy security for both the state and the nation.

The agreement was signed at the recently-concluded Madhya Pradesh Global Investors Summit 2025 in Bhopal, in the presence of state chief minister Mohan Yadav.

This partnership underscores PFC's commitment to supporting the development of India's energy infrastructure and contributing to the Nation's journey towards becoming a developed economy, the company said.