PFC Forge Historic Partnership with Govt of Goa
This collaboration marks a historic milestone in green financing, as PFC through this initiative lends its financial expertise to drive climate initiatives and catalyze energy transition through emerging technologies.
![PFC Forge Historic Partnership with Govt of Goa](https://www.psuconnect.in/sdsdsd/PFC_Forge_Historic_Partnership_with_Govt_of_Goa.jpg)
Hon’ble CM of Goa, Dr Pramod Sawant along with Smt. Parminder Chopra, CMD, PFC, Sh. Rajiv Ranjan Jha, Director (Projects), PFC and other distinguished dignitaries from Govt. of Goa, World Bank, SIDBI and NABARD.
New Delhi: Power Finance Corporation (PFC), a leading NBFC and the largest Renewable financier in India has signed a Memorandum of Understanding (MoU) in the presence of Hon’ble Chief Minister of Goa, Dr Pramod Sawant to support Goa's climate ambitions under the Blended Finance Facility being setup by Govt. of Goa in partnership with World Bank.
This collaboration marks a historic milestone in green financing, as PFC through this initiative lends its financial expertise to drive climate initiatives and catalyze energy transition through emerging technologies.
This initiative is an innovative partnership between Government of Goa and World Bank on the one hand and the leading financial institutions PFC, SIDBI and NABARD on the other to finance climate priorities.
Under the MoU, PFC, through innovative blended finance mechanisms in cooperation with this facility, will fund key climate projects such as renewable energy, green hydrogen, electric vehicles, waste-to-wealth technology and nature-based solutions leading to Energy Transition.
The Govt. of Goa will facilitate the successful implementation of the facility by identifying and developing a pipeline of climate projects, promoting policy decisions and facilitating collaboration among stakeholders.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThis collaboration signifies a transformative approach to climate action, driven by PFC and the Government of Goa. By pooling resources and expertise, both entities aim to advance sustainable development, pioneering blended financing facility in India and attract private sector investment in climate initiatives, contributing to India's ambitious net-zero goals.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits“India is committed to achieving 'Panchamrit' and net-zero emissions by 2070; PFC is going to play a pivotal role in aligning with the government's commitment to net-zero through this milestone initiative in the area of blended financing for achieving energy transition.” said Smt. Parminder Chopra, CMD PFC.
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh