July 13, 2011. State-run lending agency Power Finance Corp is in advanced talks with Nuclear Power Corporation of India for lending Rs 12,000 crore to set up two atomic plants in Gujarat and Rajasthan with a total capacity of 2,800 MW. Nuclear Power Corporation of India (NPCIL) is building two units of 700 MW each at Kakrapur atomic plant in Gujarat and Rajasthan atomic power plant. NPCIL is expanding its operations and therefore requires capital infusion. PFC and NPCIL signed a Memorandum of Understanding in October, 2010, for offering financial assistance to NPCIL for its new power projects as well as renovation and refurbishment of life extension projects. Meanwhile, PFC would issue tax-free bonds to raise Rs. 5,000 crore of the total borrowing target of Rs. 30,000 crore in the current financial year for funding power projects.