Mumbai (23.08.2022): A Memorandum of Understanding (MoU) was signed between Power Finance Corporation Ltd. (PFC) and Mahatma Phule Renewable Energy & Infrastructure Technology Limited (MAHAPREIT) on August 22 in Mumbai. The MoU aims at extending financial assistance across the value chain in the form of long-term debt, working capital/operational funding requirements, and other funding requirements for projects to be undertaken by MAHAPREIT.
The MoU was signed in the presence of Bipin Shrimali (IAS) CMD MAHAPREIT, RS Dhillon, CMD PFC (who joined virtually), RR Jha, Director (Projects), PFC RK Chaturvedi, Executive Director (Projects), PFC where senior officers from PFC and MAHAPREIT were also present.
The MoU, among other things, envisages financial assistance of about Rs 6750 crores to various solar power projects with a proposed capacity of 1550 MW within Maharashtra.
To achieve renewable energy capacity addition targets, these projects will also generate wage and self-employment opportunities in the state of Maharashtra.
The MoU also underlines PFC’s commitment to playing a pivotal role in powering the nation's aspirational journey into a greener and more sustainable future.
