Power Finance Corporation Ltd. (PFC) signed a loan agreement with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for a financial assistance of Rs. 3000 crore which will help MSEDCL meet its operational requirements within the working capital eligibility allowed under UDAY Scheme of Government of India.
The loan will help MSEDCL clear its outstanding power purchase liabilities also. The loan document was signed by S.L. Pimpalkhute, Director (Finance), MSEDCL in the presence of Rajeev Sharma, CMD, PFC, D. Ravi, Director (Commercial), C. Gangopadhyay, Director (Projects), PFC and C. Gadre, CGM (Finance), MSEDCL.