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PFC signs MoU with DVC for implementation of 2 x 660 MW Raghunathpur Phase II project in West Bengal

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New Delhi– In a significant stride towards advancing power infrastructure, Power Finance Corporation (PFC) and Damodar Valley Corporation (DVC) have successfully executed a Loan Agreement amounting to ₹4,527.68 crore. This agreement is earmarked for the realization of the ambitious 2 x 660 MW Raghunathpur Phase II project, located in West Bengal.

The signing took place in a ceremony graced by key dignitaries and officials. Present were Shri Rajiv RanjanJha, Director (Projects), Shri H. K. Das, ED (Project), Shri Praveen Verma, GM (L&D); and Shri Nitin Kumar, GM (Projects-CSP) PFC. Representing Damodar Valley Corporation were Shri Ram Naresh Singh, Chairman of DVC; Shri Arup Sarkar, Member Finance; and Shri Sumit Das, DVC.

The Raghunathpur Phase II project, a collaborative endeavor between PFC and DVC, is poised to contribute significantly to the augmentation of power generation capacity in West Bengal. With a combined capacity of 1320 MW, the project marks a key milestone in the region’s energy landscape.

This strategic partnership between PFC and DVC underlines their collective commitment to fostering sustainable development and strengthening the power sector. The loan agreement not only signifies their resolve to execute transformative projects but also serves as a testament to the collaborative spirit that drives such initiatives. As the project progresses, PFC and DVC remain dedicated to ensuring its successful implementation, adhering to the highest standards of efficiency, innovation, and environmental responsibility.

About Power Finance Corporation (PFC):

Power Finance Corporation Ltd. (PFC) is India’s largest NBFC in the financial space; focused on providing financial solutions across the value chain in generation, transmission, and distribution of electricity.

About Damodar Valley Corporation (DVC):

Damodar Valley Corporation (DVC) is a public sector undertaking engaged in power generation and transmission, catering to the energy needs of the eastern region of India.

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