The MoUs were executed for extending financial assistance to UP state power utilities for a period of 4 years.
New Delhi: Power Finance Corporation (PFC), India’s state-run lender to the electricity sector, today announced it has signed Memorandum of Undertaking (MoUs) with Uttar Pradesh power utilities for extending financial assistance of Rs 50,200 crore for multiple power sector projects.
The MoUs were signed with UP Rajya Vidyut Utpadan Nigam (UPRVUNL), UP Power Transmission Corp (UPPTCL) and UP Power Corporation Ltd (UPPCL) for thermal generation projects at Jawaharpur, Panki, Harduaganj, Anpara and Obra, apart from development of coal mines, government-sponsored schemes including Integrated Power Development Scheme (IPDS), Saubhagya, Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and strengthening of transmission and distribution network.
“The financial assistance will support the state in capacity addition of 4,760 Megawatt and in the achievement of the objective of Power for All and 24X7 quality and reliable power supply in UP,” PFC said in a statement.
The MoUs were executed for extending financial assistance to UP state power utilities for a period of 4 years. The agreements were signed on the sidelines of “UP Powering New India Investors Summit 2018” held in the state capital Lucknow.