Leading power sector lender, Power Finance Corporation (PFC), tied an agreement with th with Narmada Basin Projects Company Limited (NBPCL) to fund projects worth Rs 22,000 crore for upcoming 225-Mw hydro-electric plants and multipurpose projects in Madhya Pradesh.
NBPCL is a wholly-owned company of the state government of Madhya Pradesh and is building a hydro power plant and lift irrigation among 12 other allied projects.
PFC, which is a leading lender in the power sector, has been diversifying into other areas the past few years, owing majorly to a slowdown in thermal power sector. The financer has diversified its loan portfolio to fund irrigation schemes, railway electrification, Smart Cities project, e-vehicle manufacturing & charging infrastructure and micro grids.
