PFC Inks USD 1.28 Million Loan Agreement with JBIC for Waste-to-Energy Project in Karnataka
The loan procurements would be used to finance the 11.5 MW for the waste-to-energy project of KPC Gas Power Corporation Ltd, a wholly owned subsidiary of KPCL, at Bidadi, Ramanagara district, Karnataka.
August 22, 2023. By EI News Network
The agreement was inked under the long-term amenity of JPY 30 billion provided by JBIC to PFC.
The loan procurements would be used to finance the 11.5 MW for the waste-to-energy project of KPC Gas Power Corporation Ltd, a wholly owned subsidiary of KPCL, at Bidadi, Ramanagara district, Karnataka.
The company stated, "This Project will result in the effective utilisation of 600 TPD of segregated municipal solid waste for energy generation. The Project is based on incineration using moving grate technology from Hitachi Zosen India Pvt. Ltd.”
The loan agreement was inked at JBIC's office in New Delhi by Parminder Chopra, Chairperson and Managing Director, PFC, and Nobumitsu Hayashi, Governor, JBIC.
Chopra added, "PFC remains committed to advancing the cause of energy transition and looks forward to JBIC's collaboration in supporting India in achieving its ambitious green energy goals.”
Power Finance Corporation Ltd. is an Indian central PSU under the ownership of Ministry of Power, Government of India. The company was founded in 1986, it is the financial support of the Indian power sector.
The Japan Bank for International Cooperation, JBIC, is a Japanese public financial institution and export credit agency that was established on October 1, 1999, through the merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund.
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