PFC to lend Rs 50,200 crore to UP power utilities

New Delhi: State-run Power Finance Corporation Ltd (PFC) will lend Rs 50,200 crore to Uttar Pradesh power utilities for executing generation, transmission and distribution projects.

PFC executed Memoranda of Understanding (MoUs) with UP State sector power utilities --- UPRVUNL, UPPTCL and UPPCL---for providing the required financial assistance of Rs 50,200 crore for upcoming greenfield and extension thermal generation projects at Jawaharpur, Panki, Harduagunj, Anpara, Obra etc.; development of coal mines; GoI sponsored schemes such as IPDS, Saubhagya, DDUGJY etc.; and for strengthening of transmission and distribution network in the state, an official statement said.

The financial assistance will support the state in capacity addition of 4760MW and in achievement of the objective of “Power for All” and 24x7 quality and reliable power supply in Uttar Pradesh.

The MoUs were executed for extending financial assistance to the utilities for a period of next four years. The MoUs were executed on the sidelines of ‘UP Powering New India Investor Summit 2018’.