Govt. of Goa and PFC Forge Historic Partnership to Pioneer Subnational Blended Finance Facility for Climate Action

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 betweenGovernment 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.