New Delhi: State-owned Power Finance Corporation (PFC) Ltd signed a Memorandum of Understanding (MoU) with the Gujarat government on January 3, 2024, committing ₹25,000 crore to support the state’s power generation, transmission, and distribution projects.
The agreement, signed in Gandhinagar, focuses on bolstering the infrastructure of key power utilities in Gujarat, including Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), and several others. This financial injection is seen as a critical move to enhance the power sector’s capacity in the region.
The ceremony saw the presence of several dignitaries, including Gujarat Chief Minister Bhupendra Patel, and top officials from PFC and various Gujarat power utilities. The MoU underscores PFC’s commitment to augmenting Gujarat’s power infrastructure, contributing to the state’s ambitious energy initiatives.
The collaboration between PFC and the Gujarat government is not only expected to expand the power infrastructure but also to generate about 10,000 jobs in the state, aligning with broader economic development goals.