PFC inks $1.28 mn loan pact with JBIC for waste-to-energy project in Karnataka
New Delhi: State-owned Power Finance Corporation (PFC) on Monday said it has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 billion or $1.28 million for a waste-to-energy project in Karnataka. 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 for 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 in a statement.
The loan was signed at JBIC's office in New Delhi by Parminder Chopra, chairperson and managing director, PFC, and Nobumitsu Hayashi, governor, JBIC. "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," Chopra said.
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