PFC to fund IIT- Kanpur R&D in smart grid technology

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State-owned Power Finance Corporation (PFC) has signed a pact with the Indian Institute of Technology-Kanpur (IIT-K) to support training, research, and entrepreneurship development in smart grid technology.

As per the memorandum of association, PFC will provide financial assistance of Rs 2.38 crore to IIT-K as part of its CSR initiative.

The pact’s objective is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology, said R. Murahari, Executive Director (CSR), PFC.

As part of the project, IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to nine selected candidates to develop 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.