PFC sanctions Rs.15,000 cr; Forays into funding of Airport projects

by Psu Connect
Date: 03-10-23

PFC’s Board of Directors also reviewed strategic agendas pertaining to the Company’s business diversification strategy

PFC sanctions Rs.15,000 cr; Forays into funding of Airport projects

To reaffirm its commitment towards developing the power sector of the North Eastern Region, PFC, a Maharatna company and the leading NBFC in the Indian power sector, held its recent Board Meeting in Shillong, Meghalaya.

PFC has sanctioned loans amounting to Rs.15,000 crore for various projects during its Board Meeting. As part of its diversification strategy and funding for Infrastructure Projects, PFC sanctioned its maiden financing for a Greenfield Airport project in Andhra Pradesh.

PFC’s Board of Directors also reviewed strategic agendas pertaining to the Company’s business diversification strategy, including exploring avenues for expanding the business into new market segments and accelerating the funding in the Renewable Space, the current domestic and international market scenario and its impact on PFC’s borrowing cost, and strengthening of internal systems to improve asset quality.

The Meeting was attended by Smt. Parminder Chopra, CMD, Shri Rajiv Ranjan Jha, Director (Projects); Shri Manoj Sharma, Director (Commercial), PFC; Shri Ajay Tewari, Director (Govt. Nominee); Shri Bhaskar Bhattacharya, Independent Director, Smt. Usha Sajeev Nair, Independent Director and Shri Prasanna Tantri, Independent Director.

PFC is playing a pivotal role in financing India’s Energy Transition goals apart from funding power & infrastructure sectors and is also implementing key power sector initiatives of the Government of India, including Revamped Distribution Sector Scheme (RDSS) and Late Payment Surcharge (LPS) rules.