PFC forays into financing Green Energy projects; deploys 700 E-Buses in UP

Uttar Pradesh: Power Finance Corporation Limited and PTC India Financial Services (PFS) have sanctioned financial assistance to e-mobility platform supported by the Government of India & Government of the UK, for the deployment of 700 Electric Buses in various cities of Uttar Pradesh (viz. Meerut, Agra, Lucknow, Kanpur, Varanasi, etc.) under FAME-II.

 

The project was inaugurated by Hon’ble Prime Minister of India on 5th Oct 2021 during ‘Azadi@75 – New Urban India: Transforming Urban Landscape’ Conference-cum-Expo in Lucknow, where the officials of PFC were present.

Hon’ble PM of India Narendra Modi along with Union Defence Minister Rajnath Singh and Union Minister of Petroleum and Natural Gas Hardeep Singh Puri.

PFC extends financial assistance of Rs. 570 crore for Green Energy Projects of 700 electric buses under FAME-II initiative to e-mobility platform. The initiative will help in providing e-mobility in various cities of UP viz Meerut, Agra, Lucknow, Kanpur, Varanasi, etc for intra-city operations under the PPP model thus reducing carbon footprint and offering green energy solutions.

Read Also : NALCO Q2 FY25 results: Net Profit zooms, announced dividend