PFC to provide Rs 4,528 cr loan for DVC project to set up 1,320 MW project

State-owned Power Finance Corporation (PFC) has entered into a pact with Damodar Valley Corporation (DVC) as part of which it will provide Rs 4,527.68 crore loan to set up a 1,320 MW project at Raghunathpur in West Bengal.

The Raghunathpur Phase-II project -- a collaborative effort between PFC and DVC -- will contribute significantly to the power generation capacity in West Bengal, a PFC statement said on Friday.

With a combined capacity of 1,320 MW, the project marks a key milestone in the region's energy landscape, it said.

"PFC and DVC have successfully executed a loan agreement amounting to Rs 4,527.68 crore. This amount is earmarked for the realisation of the ambitious 2x660 MW Raghunathpur Phase-II project," the statement said.

As the project progresses, PFC and DVC remain dedicated to ensure its successful implementation, adhering to the highest standards of efficiency, innovation, and environmental responsibility, the statement said.

PFC is the country's largest non-banking financial company focused on providing financial solutions across the value chain in generation, transmission, and distribution of electricity.

DVC is a public sector undertaking engaged in power generation and transmission, catering to the energy needs of the eastern region of the country.