PFC inks pact to provide Rs 26,800 crore finance to MP power utilities

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PFC inks pact to provide Rs 26,800 crore finance to MP power utilities - Business Standard

Quick Summary:

Power Finance Corporation (PFC) has signed a Memorandum of Understanding (MoU) with the government of Madhya Pradesh to extend financial assistance of Rs 26,800 crore to the state's power utilities, the statement said.

This funding will support capital expenditure projects for entities such as Madhya Pradesh Power Generation Company Ltd (MPPGCL), Madhya Pradesh Power Transmission Company Ltd (MPPTCL), and MP discoms (distribution companies), PFC said in a statement.

State-owned Power Finance Corporation on Thursday said that it has inked an initial pact to provide Rs 26,800 crore finance to power utilities of Madhya Pradesh.