SJVN commissions 100 MW solar power unit in Gujarat
Under a long-term power purchase agreement, the power generated by the Raghanesda Solar Power Station will be supplied to Gujarat Urja Vikas Nigam Limited (GUVNL) for 25 years.
The Power Finance Corporation Limited (PFCL) the largest government owned NBFC and a Maharatna CPSE, struck a deal with the Power Ministry on Tuesday for FY 2022-23 in line with the DPE guidelines. PFCL CMD, Ravinder Singh Dhillon, signed the agreement power ministry secretary, Alok Kumar at a brief function attended by Power Ministry, Special Secretaries, Ashish Upadhyaya, Ajay Tewari, Additional Secretary, Piyush Singh, Joint Secretary, PFC’s finance director, Parminder Chopra and PFC project director, Rajiv Ranjan Jha. Set up in 1986, PFC now is considered the largest government owned NBFC in India.
In 2021, it became the first CPSE to be accorded the prestigious Maharatna status in the financial space. PFC has been showing a strategic shift in its loan portfolio with focus on the renewables space, setting itself as one of the largest funding agencies for renewables in the country. Recently, the company got its MoA changed to fund the infrastructure and logistics space as well. It is a key partner to the Central Government for implementation of several schemes such as Revamped Distribution Sector Scheme (RDSS), Liquidity Infusion Scheme under Atmanirbhar Bharat, Late Payment Surcharge Rules (LPS), Independent Transmission Projects (ITPs) etc and has been one of the highest dividend paying companies. This was stated in an official statement released here on Tuesday.
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