In Short : Power Finance Corporation’s net profit for Q1 has risen over 20% to ₹7,182 crore. This increase reflects strong financial performance and growth in the company’s operations. In Detail : The company reported a consolidated net profit of Rs 5,982.14 crore in the quarter ended on June 30, 2024, a regulatory filing showed […]
Power Finance Corporation to lend Rs 2.37 lakh crore to 20 clean energy projects – EQ Mag
Power Finance Corporation (PFC) on Friday said it has entered into loan agreements worth more than Rs 2.37 lakh crore with 20 companies These firms include Adani Group, Greenco, ReNew Power, Continuum, Avaada, JBM Auto, Rajasthan Renewable Energy and Megha Engineering & Infrastructure, among others. These agreements — part of the Maharatna company’s plan to […]
Power Finance Corp to launch Rs 5,000 crore-NCD issue on Jul 21 – EQ Mag
The effective yield offered to NCD holders varies based on different categories and ranges from 7.44 per cent to 7.54 per cent per annum Power Finance Corporation announced on Wednesday that it aims to raise funds of up to Rs 5,000 crore through a public offering of non-convertible debentures (NCDs) starting from July 21. The […]
Vibrant Energy securesthe financing of over INR 2,200 crores from Power Finance Corporation for delivering 300 MW acWind-Solar Hybrid projects – EQ Mag
India : Vibrant Energy (Vibrant), a leading owner and developer of corporate renewable energy solutions has secured over INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC) for the construction of300 MWac of Wind-Solar Hybrid projects in Madhya Pradesh and Karnataka. This financing will stand out as one of the largest project […]
Power Finance Corporation Resolves India’s Largest Stressed Transmission Asset – EQ Mag Pro
Project comprises about 1,500 km of 765 kV and 400 kV transmission lines, five sub-stations in UP State-run Power Finance Corporation (PFC) on Saturday said that it has successfully resolved the Corporate Insolvency Resolution Process (CIRP) of India’s largest stressed asset in the transmission sector, South East UP Power Transmission Company. PFC was the lead […]
Manoj Sharma assumes charge as Director (Commercial) at Power Finance Corporation – EQ Mag Pro
Manoj Sharma joined PFC in 1990 and was working as Executive Director (In-charge) of the Commercial Division before assuming charge as Director (Commercial) New Delhi : Manoj Sharma assumed charge as Director (Commercial) at Power Finance Corporation (PFC) Ltd, a Maharatna CPSE company and India’s leading power sector-focussed non-banking financial firm on Monday. Sharma is […]
Power Finance Corporation inks loan pact with JBIC for JPY 30 bn – EQ Mag Pro
The funds would be used by PFC to finance its renewable energy portfolio State-owned Power Finance Corporation (PFC) on Thursday inked a loan pact for JPY 30 billion with Japan Bank for International Cooperation (JBIC). “PFC has signed a loan agreement for JPY 30 Billion with Japan Bank for International Cooperation (JBIC) on 7th July, […]
PFC-REC make further reduction in lending rates – EQ Mag Pro
State-owned Non-Banking Financial Companies, Power Finance Corporation and REC Limited have further reduced their lending rates across all types of loans by 40 Bps. Union Minister for Power and New & Renewable Energy Shri R.K. Singh expressed satisfaction at the continued efforts by both companies to reduce rates and remain competitive. Shri Singh said that […]
Power Finance Corporation Logs Highest Ever Net Profit of Rs 8,444 Cr For FY 21, Up 49% On Y-o-Y Basis
Power Finance Corporation (PFC) non-banking financial firm under Ministry of Power records highest ever net profit of 8,444 cr for FY 21, up 49% on year on year (Y-o-Y) basis. Highest Annual Profit after tax ( PAT ) of Rs.8,444 cr. 49% jump in Standalone Profit After Tax from FY ’20 . PAT at Rs.8,444 […]
Discoms’ outstanding dues to power gencos rise nearly 24pc to Rs 1.36 lakh crore in Dec
The distribution companies (discoms) owed a total of Rs 1,10,660 crore to power generation firms in December 2019 New Delhi: Total dues owed by electricity distribution companies to power producers rose nearly 24 per cent to Rs 1,36,966 crore in December 2020 compared to the same month a year ago, reflecting stress in the sector. […]