Speaking on the occasion, Dhillon said that on the lending business front, PFC needs to diversify its business into new areas, new sectors and also go for geographical diversification
New Delhi: State-owned Power Finance Corporation (PFC), the country’s leading non-banking financial company, today announced the appointment of Ravinder Singh Dhillon as its Chairman and Managing Director (CMD).
Speaking on the occasion, Dhillon said that on the lending business front, PFC needs to diversify its business into new areas, new sectors and also go for geographical diversification.
“We need to fund areas such as charging infrastructure and electric vehicles, renewable energy sources with substantial storage and also make full efforts to tap business from good business houses,” he said.
The company highlighted Dhillion’s efforts towards geographical diversification by cross border funding of power projects worth Rs 9,000 crores related to Nepal and Bangladesh.
On the power sector liquidity support front, PFC is envisaged to provide financial assistance of the first tranche of Rs.90,000 crore liquidity package within 60 days. To this effect, Dhillon asked employees to actively interact with states for expediting financial assistance to states within the above stipulated timelines.
Source: energy.economictimes.indiatimes
