SJVN & PFC Signed MoU for RE & Thermal Projects

Current Context: State-run Power Finance Corporation (PFC) and state-owned hydro power firm SJVN Ltd have signed a Memorandum of Understanding (MoU) for providing financial support to various projects, including massive Renewable Energy (RE) ventures (Solar, Hydro, and Pumped Storage) totalling 12,178 MW capacity, along with a 660 MW thermal generation project.

• The estimated cumulative project cost is around Rs 1.18 trillion and PFC’s financial support in form of term loan is tentatively proposed to range from Rs 80,000 crore to Rs 90,000 crore.
• These funds may be further increased to accommodate the specific requirements of the RE projects.This collaborative effort between PFC and SJVN underscores their shared commitment to fostering sustainable, clean energy solutions for India’s future.
• By facilitating the development of RE and thermal generation projects on the large scale, both entities are poised to contribute significantly to India’s energy security and environmental sustainability.
• Nand Lal Sharma, chairman and managing director of SJVN, said the agreement would contribute to the company’s new mission of reaching 12 GW capacity by 2026 and a long-term vision of 50 GW by 2040.

Question:

Q.1 Which two state-run entities have signed a MoU for providing financial support to various projects, including massive Renewable Energy (RE) ventures and a thermal generation project?
a. PFC and SJVN
b. NTPC and NHPC
c. BHEL and GAIL
d. ONGC and Coal India