PTC India extends Rs.1,100 crore loans to power sector

PTC India Financial Services (PFS) on Monday announced that it has sanctioned loans worth around Rs.1,100 crore as financial assistance to the power sector.

"PTC India Financial Services Ltd. has sanctioned loans aggregating about Rs.1,100 crore for providing financial assistance to power/infrastructure sector in India," the company said in a stock exchange filing.

The loans include four projects for renewable sector and two for transmission of power.

"The company continues to expand and reinforce its presence in financing of clean energy projects and other emerging areas of power sector. This shall help consolidate PFS' position as a leading institution financing renewable energy projects in India," PFS chief executive Ashok Haldia said in the statement.

Last year, the International Finance Corp (IFC), the private financing arm of the World Bank, subscribed to $35 million worth of 10-year non-convertible debentures issued by PFS to boost long-term financing for renewable energy projects in India.