The Power Finance Corporation Ltd (PFC), a leading financial institution in the Indian power sector, has reached new heights by hitting its 52-week high and signing a groundbreaking Memorandum of Understanding (MoU) worth a staggering Rs 2.3 lakh crore.

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The MoU has been inked with 20 prominent companies operating in the clean energy segment, reaffirming PFC's commitment to supporting the growth of renewable energy in the country.

The focus of this collaboration will encompass a range of sustainable energy sources, including solar power, wind energy, green hydrogen, battery storage, electric vehicle companies, and manufacturers of green energy equipment.

Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, and Rajasthan Renewable Energy were some of the companies with whom PFC signed the MoU.

The MoU signed by PFC with these companies signifies a significant step towards achieving India's ambitious renewable energy targets. It not only provides the necessary financial impetus but also fosters innovation and technological advancements in the clean energy sector.

First Published:Jul 24, 2023 3:56 PM IST