Government-owned Power Finance Corporation (PFC), India's leading NBFC, signed an MoA with the Indian Institute of Technology- Kanpur for Training, Research, and Entrepreneurship Development in Smart Grid Technology. Under the MoA, PFC will provide financial assistance of Rs. 2,38,97,000/- (Rupees Two Crore Thirty-Eight Lakhs and Ninety-Seven Thousand only) to IIT-K under its CSR initiative.

R Murahari, Executive Director (CSR&SD), PFC informed that the objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology.

As part of the project, IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to 9 selected candidates for the development of ideas on Smart Grid Technology. The fellows will be assisted by the Start-up Innovation and Incubation Centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

M Prabhakar Das, Chief General Manager (CSR&SD), PFC and Prof. Jayant Kumar Singh, Dean Resource and Alumni, IIT-K signed the agreement on behalf of respective organizations on a virtual platform.