PFC Signs MoA with IIT-Kanpur for Training and Research in Smart Grid Technology

Power Finance Corporation (PFC), a PSU under the administrative control of the Ministry of Power, has signed an MoA with the Indian Institute of Technology, Kanpur, for training, research and entrepreneurship development in smart grid technology. Under this arrangement, PFC is going to prove around Rs 2.39 crores to the IIT Kanpur under its Corporate Social Responsibility (CSR) initiative.

The main objective of this agreement is to provide support to the premier technical institution for research and development on smart grid technology. The IIT Kanpur will provide training on smart grid technology to 90 participants and provide fellowship to 9 candidates selected out of them for the development of ideas in this arena.

The selected fellow participants will be assisted by Startup Innovation and Incubation Centre of IIT-K in order to encourage them to take up entrepreneurial route post their training.

What is Smart Grid Technology?

This is related to the self-sufficient systems that can find solutions to the problems quickly in an available system that reduces the workforce required and also aims at sustainable, reliable, safe and quality electricity to all consumers. Different technological applications are used in this case by the researchers and innovators to ensure that uninterrupted power supply can be ensured for years to come without any hassle.

Month: Current Affairs - July, 2020