Power Finance Corporation (PFC) on Friday announced that it successfully executed a loan agreement amounting to ₹4,527.68 crore with the Damodar Valley Corporation (DVC).
The agreement is earmarked for the realisation of 1,320 megawatt (MW) Raghunathpur Phase II project, in West Bengal, the power sector lender said.
The Raghunathpur Phase II project, a collaborative endeavour 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, it added.
This strategic partnership between PFC and DVC underlines their collective commitment to foster 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, it added.