Govt of Goa, PFC ink MoU to pioneer subnational Blended Finance Facility

Goa: Power Finance Corporation (PFC) has signed an MoU in the presence of Chief Minister of Goa, Dr Pramod Sawant to support Goa’s climate ambitions under the Blended Finance Facility being setup by Govt of Goa in partnership with World Bank. This collaboration marks a historic milestone in green financing, as PFC through this initiative lends its financial expertise to drive climate initiatives and catalyse energy transition through emerging technologies. This initiative is an innovative partnership between Govt of Goa and World Bank on the one hand and the leading financial institutions PFC, SIDBI and NABARD on the other.

Under the MoU, PFC, through innovative blended finance mechanisms in cooperation with this facility, will fund key climate projects such as renewable energy, green hydrogen, electric vehicles, waste-to-wealth technology and nature-based solutions leading to Energy Transition. The Govt of Goa will facilitate the successful implementation of the facility by identifying and developing a pipeline of climate projects, promoting policy decisions and facilitating collaboration among stakeholders.