New Delhi: The State-owned Power Finance Corporation (PFC) has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 Bn on 17th August. This loan agreement was signed under the long-term facility of JPY 30 Billion provided by JBIC to PFC. The loan proceeds will be utilized to finance the 11.5 MW Waste to Energy Project of KPC Gas Power Corporation Ltd, a wholly owned subsidiary of KPCL, at Bidadi, Ramanagara District, Karnataka.
The project aims to effectively utilize 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 signed at JBIC New Delhi Office by Mrs Parminder Chopra, CMD, PFC and Mr Nobumitsu Hayashi, Governor, JBIC, in the presence of Mr Rajiv Ranjan Jha, Director(Projects), PFC; Mr Sandeep Kumar, Executive Director (Finance), PFC; Mr Rajesh Kumar Shahi, Executive Director (Projects), PFC; Mr Satoru Yoneyama, Director, Social Infrastructure Finance Department, JBIC and other senior officials of PFC & JBIC. During the ceremony, Mrs Parminder Chopra, CMD, PFC, said, “This is a remarkable milestone in our partnership with JBIC and reflects the deep-rooted cooperation between India and Japan. 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.”