The Power Finance Corporation (PFC) will finance 225 MW hydroelectric and other multiple purpose projects worth Rs 22,000 crore in Madhya Pradesh.
PFC has entered into an agreement with Narmada Basin Projects Company (NBPCL), a wholly-owned company of the government of Madhya Pradesh, to fund 225 MW hydroelectric and multipurpose projects in the state.
The finance will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in the state.
The Madhya Pradesh government has conducted the pre-feasibility study of these projects and has provided approval for their execution. The disbursal of the amount will be linked to the execution of the projects.
Some of the major multipurpose projects that will be financed under the pact include Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project, Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, and Dudhi Project Chhindwara Hoshangabad.
The PFC will consider the financial assistance to NBPCL based on due diligence and mutually acceptable terms.