NHPC signs agreement with Power Finance Corp

New Delhi: National Hydroelectric Power Corporation (NHPC) has signed three memorandum of agreements with Power Finance Corporation (PFC) for line of credit facilities aggregating Rs 3,000 crore to meet funding requirements for its various projects scheduled for implementation during the current Plan period. The funds would be utilised for the 800-MW Parbati Hydroelectric project Stage-II in Himachal Pradesh, the 132 MW Teesta low Dam Hydroelectric Project Stage-III in West Bengal and 120 MW Sewa Hydroelectric project in Jammu and Kashmir, an NHPC release said. The sanctioned amount would be available for drawal up to six months after commissioning of these projects and would be repayable over 10 years.