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

4 Jan 2024 , 03:01 PM

Power Finance Corporation (PFC) signed an MoU with the Gujarat government for financial support in state projects worth Rs 25,000 crore.

The collaboration aims to provide long-term debt and critical funding for executing various projects in generation, transmission, and distribution.

The agreement focuses on expanding power infrastructure, contributing to the overall growth of the sector.

The initiative is expected to create employment opportunities, with up to 10,000 jobs anticipated to be generated in the state.

The MoU strengthens projects 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 government sees this MoU as a significant milestone, reflecting a shared commitment towards enhancing Gujarat’s power landscape for a future of reliable, sustainable, and accessible power.

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