PFC secures JPY 1.85 billion loan from JBIC for Waste-to-Energy project in Karnataka

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The loan proceeds would be used to finance the 11.5 MW Waste to Energy Project of KPC Gas Power Corporation Ltd (a wholly owned subsidiary of KPCL) at Bidadi, at Bidadi, Ramanagara District, Karnataka.

New Delhi: State-owned power sector financier Power Finance Corporation (PFC)announced it has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 Bn. The agreement was signed under the long-term facility of JPY 30 billion provided by JBIC to PFC.

The loan proceeds would be used 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.

“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 company said.

The loan was signed at JBIC’s office in New Delhi by Parminder Chopra, between India and Japan and PFC remains committed to advancing the

Chopra said the agreement reflects the “deep-rooted” cooperation Chopra said the agreement reflects the “deep-rooted” cooperation between India and Japan and 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.

Source: The Economic Times