Power Finance Corporation Ltd.

Power Finance Corporation (PFC) has entered into an agreement with Narmada Basin Projects Company (NBPCL), a wholly-owned company of Government of Madhya Pradesh, to fund projects worth Rs 22,000 crore for 225 MW hydro-electric projects & multipurpose projects in the State of Madhya Pradesh.

The funds will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in Madhya Pradesh. The Government of Madhya Pradesh has conducted the pre-feasibility study of these projects and has provided approval for their execution. The disbursal of the amount will be linked to the execution of the projects.

The MoU will help PFC to actively partner with NBPCL and provide finance for hydro-electric plants totaling 225 MW along with power components of multipurpose projects as part of state government’s endeavor to implement twelve major multipurpose projects.

Some of the major multipurpose projects that will be financed under the MoU are Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad, etc.

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.