Latest news with #PFR
Yahoo
3 days ago
- Business
- Yahoo
Poland's PFR Launches €150 M Deep-Tech Fund-Of-Funds
WARSAW, Poland, May 30, 2025 (GLOBE NEWSWIRE) -- PFR Ventures, the investment arm of the Polish Development Fund (PFR), has introduced PFR Deep Tech, a fund-of-funds programme that will deploy at least €150 million into breakthrough and dual-use technologies. Half of the capital is being supplied by PFR, and the rest will be raised from private and institutional partners. The new programme is designed to back venture-capital managers with established records in scaling deep-tech companies. Target sectors include artificial intelligence, cybersecurity, advanced materials, robotics, space and dual use. Selected funds must match PFR's commitment euro-for-euro and invest at least the same amount in businesses that maintain a clear Polish nexus through R&D, operations or headquarters. 'We are filling a financing gap for frontier technologies that often require more patience than traditional VC can offer,' said Mikołaj Raczyński, Vice-President of PFR. 'Poland already has world-class engineers and scientists; what has been missing is a patient pool of capital that lets their ideas mature here rather than migrating abroad. Ukraine's proximity is more than just a geopolitical backdrop; it brings concrete needs and gives us sharper insight into the dual-use technology market.' PFR Ventures expects to anchor three to five specialised funds, which together could back up to 80 high-potential businesses over the life of the programme. Raczyński added that the initiative is meant to attract both global expertise and domestic talent: 'By pairing public money with private know-how, we aim to embed Poland deeper in global value chains while keeping intellectual property and high-skill jobs at home.' The launch builds on PFR Ventures' position as Central Europe's largest institutional limited partner (LP). The organisation already supports more than 90 venture capital, private equity and private credit funds. 'The Polish capital market has the foundations to become a regional investment hub' Raczyński noted. 'With PFR Deep Tech we are sharpening our focus on technologies that matter for both economic competitiveness and security.' The Polish Development Fund (PFR) is committed to supporting Poland's sustainable economic growth by fostering domestic investment, promoting the international expansion of Polish enterprises, and collaborating with foreign partners. Source: PFR CONTACT: CONTACT: Maciej Buczkowski Tel. +48 515 282 106
Hindustan Times
3 days ago
- Politics
- Hindustan Times
Will go ahead with Siang dam only after public nod, says Arunachal CM amid protests
Itanagar: Arunachal Pradesh chief minister Pema Khandu on Friday said a public hearing would be conducted once the pre-feasibility report for the proposed Siang Upper Multipurpose Hydropower Project (SUMHP) is completed and underlined that the consent of local residents would be key to the government's decision on the project. The chief minister's comments come days after a meeting on the pre-feasibility report (PFR) for the contentious project in Upper Siang district spiralled into chaos on May 27 after villagers opposing the mega hydropower project stormed into the meeting and disrupted the proceedings. Khandu stressed that the PFR was a preliminary, non-intrusive assessment only focused on geological viability. 'Once the PFR is complete, we will hold a public hearing and only proceed based on the will of the people,' he said. The report, he noted, will identify the likely submergence areas, the number of affected villages, and necessary mitigation measures. Khanu said the project was of strategic value and was not just a project aimed at generating electricity. 'This is not just a hydropower project. It is a national security necessity,' he said. The chief minister pointed to China's plans to construct a 60,000 MW project near the Indian border. 'China's unilateral dam construction poses serious challenges to the flow of the Siang River. If they release excess water, it could trigger devastating floods in Arunachal Pradesh and Assam. Conversely, if they withhold water, the river could reduce to a narrow stream in winter,' Khandu said. In December, China approved the construction of what will be the world's biggest hydropower dam on the eastern rim of the ecologically fragile Tibetan plateau. The approval triggered concerns about the impact of the dam, which could affect millions downstream in India and Bangladesh. Khandu said China was not a signatory to the United Nations Watercourses Convention and, as such, is not legally obligated to share hydrological data or consult with downstream nations on transboundary rivers. 'In the absence of a water-sharing treaty, we must act responsibly and construct necessary safeguards on our side,' he said. Drawing a comparison with the Indus Water Treaty between India and Pakistan, Khandu warned that during hostilities or national emergencies, such treaties may be suspended, leaving countries exposed. 'We must prepare for all contingencies. Water security is as critical as national defence,' he added. Khandu also affirmed that both the state and central governments are on the same page regarding the project. 'Let the PFR be completed first. Only then will we comprehensively address all technical, environmental, and social aspects, including compensation and rehabilitation,' he said. The project has faced resistance from civil society groups. The Siang Indigenous Farmers Forum (SIFF), in particular, has been vocal against the project, accusing the government and local legislators of pushing the plan without adequate research or public consultation. 'Villagers are mostly unaware of the dam's implications. Ground verification and awareness drives should have been conducted much earlier,' SIFF spokesperson Talong Mize said recently, demanding greater transparency and the involvement of subject-matter experts to explain the project's environmental and technical dimensions to affected communities.
Yahoo
3 days ago
- Business
- Yahoo
Poland's PFR Launches €150 M Deep-Tech Fund-Of-Funds
WARSAW, Poland, May 30, 2025 (GLOBE NEWSWIRE) -- PFR Ventures, the investment arm of the Polish Development Fund (PFR), has introduced PFR Deep Tech, a fund-of-funds programme that will deploy at least €150 million into breakthrough and dual-use technologies. Half of the capital is being supplied by PFR, and the rest will be raised from private and institutional partners. The new programme is designed to back venture-capital managers with established records in scaling deep-tech companies. Target sectors include artificial intelligence, cybersecurity, advanced materials, robotics, space and dual use. Selected funds must match PFR's commitment euro-for-euro and invest at least the same amount in businesses that maintain a clear Polish nexus through R&D, operations or headquarters. 'We are filling a financing gap for frontier technologies that often require more patience than traditional VC can offer,' said Mikołaj Raczyński, Vice-President of PFR. 'Poland already has world-class engineers and scientists; what has been missing is a patient pool of capital that lets their ideas mature here rather than migrating abroad. Ukraine's proximity is more than just a geopolitical backdrop; it brings concrete needs and gives us sharper insight into the dual-use technology market.' PFR Ventures expects to anchor three to five specialised funds, which together could back up to 80 high-potential businesses over the life of the programme. Raczyński added that the initiative is meant to attract both global expertise and domestic talent: 'By pairing public money with private know-how, we aim to embed Poland deeper in global value chains while keeping intellectual property and high-skill jobs at home.' The launch builds on PFR Ventures' position as Central Europe's largest institutional limited partner (LP). The organisation already supports more than 90 venture capital, private equity and private credit funds. 'The Polish capital market has the foundations to become a regional investment hub' Raczyński noted. 'With PFR Deep Tech we are sharpening our focus on technologies that matter for both economic competitiveness and security.' The Polish Development Fund (PFR) is committed to supporting Poland's sustainable economic growth by fostering domestic investment, promoting the international expansion of Polish enterprises, and collaborating with foreign partners. Source: PFR CONTACT: CONTACT: Maciej Buczkowski Tel. +48 515 282 106 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
23-05-2025
- Politics
- The Hindu
Arunachal villagers protest security put up for proposed dam
GUWAHATI Villagers from three districts of central Arunachal Pradesh, on Friday (May 23, 2025), launched an indefinite sit-in at a site where security forces personnel have been deployed to facilitate the pre-feasibility report (PFR) and survey for a proposed 11,000 MW hydroelectric project. The protesters are residents of villages in the Siang, Upper Siang and West Siang districts likely to be affected if the 11,000 megawatt Siang Upper Multi-Purpose Project (SUMP), entailing a 300-metre-high dam, comes up on the Siang River. Apart from the perceived ecological disaster, the villagers are against the dam as they refer to the river as 'Ane', meaning 'mother' in the language of the Adi indigenous community. After confronting the Central armed police and State police personnel on Thursday, the villagers converged at Beging under the Siang Indigenous Farmers' Forum (SIFF) to say no to any activity that would lead to the mega-dam. Located in the Siang district, Begging is the survey site for the hydroelectric project pursued by the NHPC. In a message to the district heads in December 2024, the State's Undersecretary (Home) sought accommodation and logistics facilities at several villages around the project site besides Begging and the district headquarters — Pasighat (East Siang), Boleng (Siang), and Yingkiong (Upper Siang). The message specified five companies of the central armed police forces near Begging and Parong villages. The protesters, mostly women, shouted slogans and held placards conveying their opposition to the mega project. 'We cannot allow PFR for a project that will rob us of our ancestral land and livelihood, and, without PFR, land acquisition cannot happen,' a SIFF member said. Protests erupt over Siang dam survey in Arunachal He cited the 2,880 MW Dibang Valley hydroelectric project, where dam-building companies acquired land after the PFR was conducted. The SIFF and affiliate organisations demanded the immediate withdrawal of the armed security personnel and a peaceful dialogue between the government representatives and the families who would be affected by the project. The villagers said they have been opposing dams under the banner of the SIFF since the early 1980s. 'This forceful survey is a blatant violation of our fundamental rights guaranteed by the Constitution of India. We condemn this arbitrary abuse of power, which has profoundly hurt our sentiments for which we seek immediate intervention and remedy from government authorities and civil society organisations concerned,' the SIFF's Bhanu Tatak and Nith Paron said in a statement. The opposition to the SUMP started brewing after the NHPC wrote to the Arunachal Pradesh government in July 2024, seeking round-the-clock security at the proposed sites for core drilling works and geophysical studies. Chief Minister Pema Khandu backed the project, citing concerns over China's plan to construct a massive project on the Yarlung Tsangpo to generate 60,000 MW of electricity. Yarlung Tsangpo is the Tibetan stretch of the Siang, which becomes the Brahmaputra in Assam downstream after meeting two other rivers. Mr. Khandu said projects such as the SUMP were necessary to counter the Chinese projects. He said Beijing, not a signatory to the International Water Conventions, could divert water from multiple reservoirs to drier parts of China. 'In such a scenario, the volume of water in Siang will reduce drastically, so much so that one will be able to cross it on foot during winters,' he said, also underscoring the possibility of China suddenly releasing water from its dams to cause devastation in Arunachal Pradesh and Assam.
Indian Express
23-05-2025
- Politics
- Indian Express
With central forces and drilling equipment brought in, locals restart protest against Siang dam in Arunachal
Protests have again broken out in Arunachal Pradesh's Siang district against the proposed 11,000 MW Upper Siang hydropower project. This comes days after security forces were moved into the area and the National Hydroelectric Power Corporation (NHPC) brought in equipment to begin drilling work for a project feasibility analysis. The protesters, including those whose villages and farmlands would be affected by the dam, began an indefinite dharna at Beging in Siang district under the banner of Siang Indigenous Farmers' Forum (SIFF). The SIFF has been leading the opposition to the proposed Upper Siang hydropower project. Beging is the site where state authorities and the NHPC have sought to begin core drilling work to prepare a pre-feasibility report (PFR) for the project, a step that has been stalled for a year because of local opposition. According to an NHPC official, the equipment required for this was moved to Beging on May 20 after being given the go-ahead by the state administration and after Central Armed Police Forces (CAPF) were deployed there. The Beging or Paring site is one of three proposed project sites along the Siang — the other two being Ugeng and Dite Dime. 'With the go-ahead, we proceeded, but before the work started, the protests also started. So, it looks like it will be stalled,' said the official. Neither the district police superintendent nor the deputy commissioner could be reached for comment. Local residents said that besides Beging, CAPF personnel have also been deployed at other villages such as Geku and Jengging, and in the district headquarters of both Siang and Upper Siang districts. Last December, panic and protests had spread in the region after the state government took a decision to deploy nine companies of CAPF as well as additional police to the proposed project sites in a bid to begin the drilling work. In the face of this opposition, the forces had not been moved into the area. 'After that, the forces did not come. But now they have come suddenly. Accommodation and permanent toilets have been made for them. The locals had not been consulted nor given any notification before the forces were brought in. We have all been opposing these dam activities since the beginning, but they are trying to do it forcefully,' said Nith Paron, a student leader from Upper Siang district. As hundreds gathered at the site to register their protest, some even torched a hanging bridge connecting Beging to the main road. Dubit Siram, another local activist and resident of Parong village, said protesters intend to be at the site around the clock. 'No consent was taken from locals before trying to force the work ahead using the armed forces. Now we are giving a three-day ultimatum to the authorities to remove all the armed forces from Siang, Upper Siang and East Siang districts and to remove all the equipment,' he said. Both the central and state governments are pushing for the Siang dam as a means to counter the possible effects of the China's planned 60,000 MW dam — the world's largest hydro-electric project — on the Yarlung Tsangpo river in Tibet. The Yarlung Tsangpo flows into Arunachal Pradesh, where it is known as the Siang. It then joins other tributaries like the Dibang and Lohit to become the Brahmaputra in Assam. Arunachal Cabinet Minister Ojing Tasing, the MLA from the Pangin constituency in Siang, told The Indian Express that 'the dam will be built, the government will not compromise on that'. He also claimed that '80% of the people' in his constituency have 'verbally given the green signal' for the PFR to be completed, claiming that the protests were 'instigated by some people from outside the district'. 'The paramilitary forces are there to protect the equipment and the labour, not to threaten the public. The Arunachal government has held that we will only go forward with the work after taking the people into confidence,' he said.
