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The Power Finance Corporation Ltd (PFC) signed an MoU with the government of Gujarat on Wednesday for providing comprehensive financial backing to the tune of Rs 25,000 crore for power generation, transmission, and distribution projects in the state.

Apart from facilitating the expansion of power infrastructure, the MoU will also help to create 10,000 jobs in Gujarat, an official statement said.

The MoU was signed by Parminder Chopra, CMD PFC and Jai Prakash Shivhare, MD (GUVNL) in the presence of Gujarat Chief Minister Bhupendra Patel.

This strategic alliance is anticipated to usher in a new era of energy sustainability and efficiency in Gujarat, setting the stage for transformative changes and catalysing the state's vision for a robust and reliable power infrastructure, the statement added.