State-owned power sector lender Power Finance Corporation has signed an agreement with engineering consultancy firm MECON Limited to work together on infrastructure and energy projects, including clean energy areas such as green hydrogen, energy storage and renewable power, PSU Connect reported.
Officials said the agreement is intended to bring together MECON’s engineering experience and PFC’s financing capacity to support large infrastructure and clean energy projects across the country. The partnership will focus on projects linked to India’s move towards cleaner sources of energy.
The agreement was signed in the presence of senior officials from both organisations, including Parminder Chopra, Chairman and Managing Director of PFC, and Sanjay Kumar Verma, Chairman and Managing Director and Director (Projects) of MECON, along with other directors and officials.
According to officials, the partnership will help improve planning, technical assessment and funding support for upcoming energy projects. It also reflects PFC’s growing role in funding environmentally friendly projects, while allowing MECON to expand its work in new areas of the energy sector.
The collaboration is in line with India’s long-term plans to shift towards cleaner energy and upgrade its energy infrastructure.
