SHIMLA: SJVN, led by Chairman & Managing Director Sh. Nand Lal Sharma, has sealed a crucial deal with Power Finance Corporation (PFC) for financing its diverse project portfolio.
According to the SJVN, PFC will provide funding for SJVN's renewable projects, including solar, hydro, pumped storage, and thermal projects, with a total project cost of nearly Rs. 1,18,826 crores.
The MOU was signed in the presence of Shri Nand Lal Sharma, and Smt. Parminder Chopra, Chairman & Managing Director, PFC by Sh. Akhileshwar Singh, Director (Finance) SJVN and Sh. Manoj Sharma, Director (Commercial) PFC.
The financing is tentatively set at 70% of the project cost, potentially more for renewable energy projects.
This partnership aligns with India's goal of 50% non-fossil fuel capacity by 2030 and SJVN's targets of 12,000 MW by 2026 and 50,000 MW by 2040.