Power Finance Corporation Ltd.

Power Finance Corporation (PFC) has inked a Memorandum of Understanding (MoU) with Uttar Pradesh power utilities for providing financial assistance of Rs 50,200 crore. The company has executed MoU with Uttar Pradesh state sector power utilities - UPRVUNL, UPPTCL and UPPCL.

These funds would be used for upcoming greenfield and extension of thermal power generation projects at Jawaharpur, Panki, Harduagunj, Anpara and Obra; development of coal mines; Integrated Power Development Scheme, Saubhagya, DDUGJY (rural electrification); and for strengthening of transmission and distribution network in the state.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.