Power Finance Corporation (PFC), the central PSU under Ministry of Power and India’s leading NBFC, entered into an agreement with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. of Madhya Pradesh, to fund projects worth Rs.22,000 crore for 225 MW hydro-electric projects & multipurpose projects in the State of Madhya Pradesh.
As per the agreement, the funds will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in Madhya Pradesh.
The Government of Madhya Pradesh has conducted the pre-feasibility study of these projects and has provided approval for their execution.
The disbursal of the amount will be linked to the execution of the projects.
Under the MoU, PFC will actively partner with NBPCL and provide finance for hydro-electric plants totaling 225 MW along with power components of multipurpose projects as part of the state government’s endeavor to implement twelve major multipurpose projects.
The major multipurpose projects that will be financed under the MoU are Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Basaniya Multipurpose Project Dindori, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad, etc.
