Secures ₹1014.585 Crore Loan from PFC to Strengthen Coal Mining Portfolio

New Delhi, March 2026: Damodar Valley Corporation (DVC), one of India’s leading power and coal utilities, has achieved a major milestone by successfully closing a ₹1014.585 crore term loan with Power Finance Corporation Ltd (PFC) to develop four key coal mines. This strategic move strengthens DVC’s mining portfolio and ensures enhanced energy resource security for the nation.

Financial Closure Marks Strategic Growth in Mining Operations

The loan agreement was formally executed by Shri Durgesh Maiti, CGM (Finance), DVC, and Ms. Shelly Gupta, GM & HOU (L&D), PFC Ltd., in the presence of top leadership, including Shri S. Suresh Kumar, IAS, Chairman, DVC, and executives Shri Arup Sarkar, Shri A. Nandi, ED (Mining), and Shri S. Mukherjee, ED (Finance). Senior officials from PFC Ltd. also attended the signing ceremony.

This financial closure represents a landmark achievement in DVC’s strategic plan to expand its coal mining operations, secure raw materials for power generation, and support India’s growing energy demands.

Strengthening Resource Security and Energy Infrastructure

The partnership between DVC and PFC reflects a strong alignment of objectives:

Enhanced Resource Security: The four coal mines will provide a reliable supply of coal for DVC’s power generation units.
Financial Strength: The ₹1014.585 crore term loan ensures capital availability for mining expansion and operational efficiency.
Sustainable Growth: Strategic investment in coal mines supports India’s energy infrastructure while facilitating long-term energy planning.

Speaking on the occasion, Shri S. Suresh Kumar, IAS, Chairman, DVC, stated, “This collaboration marks a significant step toward strengthening our coal mining portfolio and securing the energy resources essential for India’s growth.”

About DVC and PFC

Damodar Valley Corporation (DVC) is a pioneer in India’s power and coal sector, managing hydroelectric, thermal, and renewable energy projects across Eastern India. With decades of operational excellence, DVC plays a crucial role in supporting regional energy security and economic development.

Power Finance Corporation Ltd (PFC) is India’s leading financial institution for the power sector, providing loans, financial advisory, and investment solutions to utilities, state electricity boards, and power developers nationwide.

Future Outlook: Driving India’s Energy Progress

With this strategic loan closure, DVC is well-positioned to enhance its coal production capacity, strengthen operational efficiency, and ensure a stable energy supply for India. The collaboration sets a benchmark for public-sector partnerships that align financial innovation with energy security objectives.

This milestone underscores DVC’s commitment to powering progress, delivering sustainable energy solutions, and supporting India’s long-term energy and economic growth.