PFC Signs INR 2.38 Cr Agreement with IIT- Kanpur for Research & Entrepreneurship Development in Smart Grid Technology

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Power Finance Corporation (PFC), a PSU under Ministry of Power and country’s leading NBFC, signed a MoA with Indian Institute of Technology- Kanpur (IIT-K) for Training, Research, and Entrepreneurship Development in Smart Grid Technology. Under the MoA, PFC will provide financial assistance of Rs. 2,38,97,000/- (Rupees Two Crore Thirty Eight Lakhs and Ninety Seven Thousand only) to IIT-K under its CSR initiative.

R. Murahari, Executive Director (CSR&SD), PFC informed that the objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology. As part of the project, IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to 9 selected candidates for development of ideas on Smart Grid Technology. The fellows will be assisted by Start-up Innovation and Incubation Centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

M Prabhakar Das, Chief General Manager (CSR&SD), PFC and Prof. Jayant Kumar Singh, Dean Resource and Alumni, IIT-K signed the agreement on behalf of respective organizations on a virtual platform.

The Ministry of New & Renewable Energy (MNRE) recently issued notice of Administrative Approval for continuation of the Renewable Energy Research and Technology Development Programme for the period from 2017-18 to 2019-20. 

Notice states that Sanction of the President of India is hereby accorded for continuation of the Renewable Energy Research and Technology Development (RETD) Programme of the Ministry of New and Renewable Energy (MNRE) for implementation during the period 2017-18 to 2019-20 at a total cost of Rs. 175.87 crore.

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