Power Finance Corporation (PFC), a government-owned NBFC, has signed a memorandum of agreement 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 crore under its Corporate Social Responsibility (CSR) to IIT-K.
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.
The agreement aims to promote R&D in Smart Grid technology.
As part of project, IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to nine 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.
Featured photo courtesy: Siemens
