ADVERTISEMENT
ADVERTISEMENT

PFC signs MoU with Gujarat Government for Rs. 25,000 Crore Power Projects

Under the terms of the MoU, the envisaged financial assistance stands at an impressive Rs. 25,000 Crore, dedicated to powering up various projects across Gujarat.
Indian Masterminds Stories

Power Finance Corporation Ltd. (PFC), a Maharatna CPSE and the biggest NBFC in the electricity sector, has signed an MoU with the Government of Gujarat (GoG) in Gandhinagar on January 3, 2024. The primary goal of this MoU is to provide complete financial support for the state’s generating, transmission, and distribution projects.

The MoU has been signed by Smt. Parminder Chopra, CMD PFC and Shri Jai Prakash Shivhare, MD (GUVNL) in the presence of Shri Bhupendra Patel, Chief Minister of Gujarat; Shri Rushikesh Patel, Minister of Health & Family Welfare, Higher & Technical Education, Law & Justice, Govt. of Gujarat; Shri Raj Kumar Chief Secretary, Govt. of Gujarat; Shri S. J. Haider, Additional Chief Secretary, Govt. of Gujarat; Smt. Mamta Verma, Principal Secretary (Energy & Petrochemicals Department); Shri R.K. Chaturvedi, Executive Director (Projects), PFC and other Senior Officials of PFC, GUVNL and other power utilities. 

The MoU, signed in Gandhinagar, marks a significant step towards bolstering various projects undertaken by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Paschim Gujarat Vij Company Ltd (PGVCL), and Uttar Gujarat Vij Company Ltd (UGVCL). The collaboration is set to facilitate long-term debt and other critical funding necessities vital for executing these diverse projects.

Under the terms of the MoU, the envisaged financial assistance stands at an impressive Rs. 25,000 Crore, dedicated to powering up various projects across Gujarat. This substantial financial commitment underscores PFC’s steadfast commitment to bolstering the power infrastructure in the region and supporting the state’s ambitious initiatives in the power sector. Apart from facilitating the expansion of power infrastructure, the MoU shall inter-alia also help creating employment generation to the tune of 10,000 in the state of Gujarat.

This strategic alliance is anticipated to usher in a new era of energy sustainability and efficiency in Gujarat, setting the stage for transformative changes and catalysing the state’s vision for a robust and reliable power infrastructure.

The signing of this MoU marks a significant milestone in the journey towards augmenting Gujarat’s power landscape, reflecting a shared commitment towards a future of reliable, sustainable, and accessible power for the people of the state.


Indian Masterminds Stories

Related Stories

News

IAS Wallpaper
IAS Ajay Tiwari Repatriated To Home Cadre
IAS Wallpaper
Three 1999 Batch IAS Officers Empanelled As Additional Secretaries at the Centre
Samir V Kamat
Samir V Kamat's Tenure As Secy DDR&D and Chairman DRDO Extended
Rajkot Fire Tragedy
Rajkot Fire Aftermath: CP, ACP, DCP & Municipal Commissioner Shunted Out
PSUs
IOC, GAIL, ONGC Fined For 4th Consecutive Year for Failing to Comply With Listing Norms
IAS Officers New Image
Major Bureaucratic Overhaul in Delhi, Amit Yadav Made OSD, Social Justice & Empowerment
LIC Logo
LIC Clocks 2% Surge In Net Profit In Q4, FY24
GST Training
Two-Day Training on GST Prime for Central & State Tax Officers Commences at NACIN ZTI Delhi

Videos

WhatsApp Image 2024-05-24 at 08.25
Delving into the Minds Behind Espionage: Dr. Neil Krishan Aggarwal's 'Covert'
WhatsApp Image 2024-05-06 at 13.35
IFS Officer Jyotsna Sitling Leads Community in Eco-Restoration Efforts
Dr Sanjeev Chopra
IAS Alone Don't Run The Government; It's A Synergy Of All Services
ADVERTISEMENT
Latest
Latest
WhatsApp Image 2024-05-28 at 4.42
How Faridabad Implemented Innovative Measures to Enhance Voter Experience
Untitled design (1)
Red Wattled Lapwing Nests in Mudumalai Tiger Reserve Following Lantana Clearance
ADVERTISEMENT
Videos
Videos
WhatsApp Image 2024-05-24 at 08.25
WhatsApp Image 2024-05-06 at 13.35
Dr Sanjeev Chopra
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT