In May, the government announced a Rs 90,000 crore liquidity infusion for discoms under which these utilities would get loans at economical rates from PFC and REC. State-owned Power Finance Corporation has introduced a facility for electricity distribution companies (discoms) to avail funds for paying their dues to power generation companies (gencos), a move that […]
Discoms’ outstanding dues to power gencos rise 37 percent to Rs 1.33 lakh crore in August
In August 2020, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs 1,20,439 crore, as against Rs 78,646 crore in the year-ago period. NEW DELHI: Power producers’ total dues owed by distribution firms rose over 37 per cent year-on-year to Rs 1.33 lakh […]
PFC signs MoU with Govt. of India detailing targets for FY 2020-21
Power Finance Corporation Ltd (PFC) has signed a performance-based ‘Memorandum of Understanding’ (MoU) with Ministry of Power, Govt. of India detailing various targets to be achieved by PFC during FY 2020-21. The MoU has been signed by Shri SanjivNandanSahai, Secretary (Power), Govt. of India and Shri R.S. Dhillon, CMD, PFC in presence of senior […]
Government of Andhra Pradesh Approves ₹900 Cr. to Pay NTPC Towards Letter of Credit
Government of Andhra Pradesh Approves ₹900 Cr. to Pay NTPC Towards Letter of Credit Power Subsidy – FY-2020- 21 – Payment Security Mechanism – Central Generating Station M/s.NTPC Ltd., – Sanction of an amount of Rs.900.00 Cr/- from Nov-2019 to Jan-2020 – Orders – Issued. For more information please see below link:
Smt. Parminder Chopra takes charge as Director (Finance), PFC
Government-owned Power Finance Corporation (PFC), India’s leading NBFC, today announced the appointment of SmtParminder Chopra as Director (Finance) of the company. She succeeds Shri N.B. Gupta, who superannuated on June 30 2020. Smt. Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC.With over 32 years […]
PFC in talks with bankers for $750 million overseas bond issue
PFC had raised over $2 billion through similar overseas offerings in the previous fiscal year. Its last offering of $750 million was in January and attracted bids for four times the bonds on offer New Delhi: Power Finance Corporation (PFC) is in discussions with bankers to raise up to $750 million through an overseas bond […]
PFC signs MoU with NBPCL to fund projects worth ₹ 22,000 crore
PFC signs MoU with NBPCL to fund projects worth ₹ 22,000 crore for 225 MW hydro-electric projects & Multipurpose projects in Madhya Pradesh Power Finance Corporation (PFC), the central PSU under Ministry of Power and India’s leading NBFC, today entered into an agreement with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. […]
Discoms to get loans at cheaper rate to pay dues to Gencos: Minister
“PFC and REC provide loan to distribution and generation sector with a spread of 2.5 to 3 per cent. Under the present scheme, they have agreed to take lower 1.5 per cent spread that will lower the interest rate,” he said New Delhi: Financially stressed discoms will be offered loans at cheaper rates of 8.5 […]
Govt-owned PFC accumulates NPAs of Rs 47,454 cr: IEEFA
Author and energy finance analyst Kashish Shah said the PFC and the REC have lent extensively to coal-fired power projects, with Rs 343,746 crore ($49bn), or 54 per cent of their total loan book, exposed to thermal power New Delhi: Government-owned Power Finance Corporation (PFC) has accumulated non-performing assets (NPAs) totalling Rs 47,454 crore ($6.8bn) […]
Renewable is as good as an IT industry for India
Renewable is as good as an IT industry for India: Ashish Khanna, MD & CEO, Tata Power Solar and President, Tata Power Renewables He added that India is not taking advantage of it at the current level Ashish Khanna in a recently-held media video round-table by Tata Power Solar spoke to journalists about the company’s future plans, the […]