State-owned Power Finance Corporation Ltd (PFC) on Tuesday said it has signed a pact with NHPC Ltd to lend funds for the development of hydro projects.
NHPC is engaged in the development of hydropower in India and has also diversified into solar and wind power. It also provides consultancy services to hydropower and renewable energy projects, PFC said in a statement.
"PFC has signed a Memorandum of Understanding (MoU) with NHPC Ltd to lend funds for the development of Hydro Projects by NHPC. PFC will also provide financial assistance for the acquisition of stressed projects," it said.
Subir Saha, Executive Director (Projects) signed the MoU on behalf of PFC, while V K Maini, ED (strategy and consultancy) was present on behalf of NHPC Ltd on August 24, 2021.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.