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Gujarat Govt. Signs MoUs with PFC, REC-PDCL for T&D Projects

Power Finance Corporation Ltd. (PFC) and REC Power Development and Consultancy Ltd. (RECPDCL) have signed respective Memoranda of Understanding (MoUs) with the Gujarat Government for Transmission and Distribution related projects. These MoUs were signed ahead of the Vibrant Gujarat Summit 2024.

PFC signed an MoU with Gujarat govt. on 3rd January 2024 for providing financial support to various transmission, generation and distribution projects in the state. Under this MoU, PFC will provide financial assistance of about Rs. 25,000 crore for projects to be developed by Gujarat Energy Transmission Corporation Ltd (GETCO), Gujarat Urja Vikas Nigam Limited (GUVNL), Paschim Gujarat Vij Company Ltd (PGVCL), Dakshin Gujarat Vij Company Ltd (DGVCL), Gujarat State Electricity Corporation Limited (GSECL), Uttar Gujarat Vij Company Ltd (UGVCL) and Madhya Gujarat Vij Company Ltd (MGVCL).

This was followed by REC Power Development inking a Rs. 2,094.28 crore-MoU with Gujarat government on 4th January 2024 for the installation of smart meters for Paschim Gujarat Vij Company Ltd. (PGVCL). This project will be implemented under Phase 1 of Revamped Distribution Sector Scheme (RDSS). As per this MoU, the Gujarat government will help RECPDCL to obtain requisite clearances and permissions for its projects in the state by streamlining the process for the same.