Explanation:

The Punjab Genco Ltd., a generating company (formerly known as Punjab Renewable Energy Development & Punjab Genco Ltd a wholly owned company of Punjab Energy Development Agency(PEDA)) was formed to meet with the statutory requirements of Electricity Supply Act, 1948 for power generation.
The main objective of the Company is to identify the projects based on new and renewable energy fuels, prepare techno-economic feasibility reports and identify and select suitable investors for implementation of such projects in joint/assisted sector or on Build, Operate and Own (BOO) basis or at its own including supervision and execution of such schemes.