Power Finance Corp. Ltd provides a Financial Assistance of Rs 50,200 Cr to UP

Power Finance Corporation Ltd. (PFC) has executed Memoranda of Understanding (MoUs) with UP State sector power utilities viz. UPRVUNL, UPPTCL and UPPCL for providing the required financial assistance ofRs. 50,200 crore for upcoming greenfield and extension Thermal Generation projects at Jawaharpur, Panki, Harduagunj, Anpara, Obraetc.; Development of coal mines;GoIsponsored schemes such as IPDS, Saubhagya, DDUGJY etc.; and for Strengthening of Transmission and Distribution network in the State of UP. The financial assistance will support the State in capacity addition of 4760 MW; and in achievement of the objective of “Power for All” and 24×7 quality & reliable power supply in Uttar Pradesh.

The MoUs were executed for extending financial assistance to UP State Power utilities for a period of next four years with cumulative amount of Rs. 50,200 crore. The MoUs were executed on the sidelines of ‘UP Powering New India Investor Summit 2018’ recently held in Lucknow, in presence of Shri Alok Kumar, Principal Secretary (Energy), Govt. of UP, Shri Rajeev Sharma, CMD (PFC) and other senior officials from UP State Power Utilities and PFC.