India’s NHPC Limited and PFC Limited have signed an agreement that will see the firms cooperate in the development of hydropower projects.
Under the terms of the deal signed last month, PFC will provide financial assistance to projects currently being developed or planned for development by NHPC (particularly projects under a Joint Venture route) and will also support NHPC in participation of various bids by providing financial commitment required for taking over the projects, on a case by case basis.
In return, NHPC will provide expert advice on ongoing hydro projects funded by PFC, and will also undertake O&M activities of hydroelectric projects taken over by PFC.
The MoU was signed by Shri V. K. Maini, Executive Director (SBD & C), NHPC and Shri Subir Saha, Executive Director (Projects- SR, ER & NER, CSP & C), PFC. In attendance was Shri Praveen Kumar Singh, Director (Commercial) along with senior officers of PFC and senior officers of Strategy, Business Development and Consultancy Department of NHPC.