In a significant development, SJVN, under the leadership of Chairman & Managing Director Nand Lal Sharma, has entered into a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) to secure financing for its extensive range of projects.
SJVN Collaborates With PFC For Financing Diverse Project Portfolio
Under this partnership, PFC has committed to provide financial support for SJVN’s diverse project portfolio, which includes renewable projects such as solar, hydro, pumped storage, and thermal projects. These projects are estimated to have a total project cost of approximately Rs. 1,18,826 crores. The financial assistance in the form of term loans is tentatively set at 70% of the project cost, with the possibility of increased funding for renewable energy projects based on specific project requirements.
The MoU was formalized in the presence of Nand Lal Sharma, Chairman & Managing Director of SJVN, and Parminder Chopra, Chairman & Managing Director of PFC. The signing ceremony featured Akhileshwar Singh, Director (Finance) of SJVN, and Sh. Manoj Sharma, Director (Commercial) of PFC. Additionally, Geeta Kapur, Director (Personnel) of SJVN, along with senior officials from both SJVN and PFC, graced the occasion.
This collaboration follows SJVN’s recent agreements with other power CPSEs for the development of renewable energy projects. These strategic partnerships further solidify SJVN’s position in the renewable energy sector, aligning with the Government of India’s target to achieve 50 percent of installed capacity from non-fossil fuel sources by 2030.
It also contributes to SJVN’s ambitious mission of reaching 12,000 MW by 2026 and the shared vision of achieving 50,000 MW installed capacity by 2040. This collaboration marks a significant step toward sustainable energy generation and financial growth for SJVN, reinforcing its commitment to India’s renewable energy goals.
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