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State-owned PFC on Thursday said it has sanctioned Rs 3,517 crore worth of loan to Chhattisgarh East Railway Limited (CERL) for implementing the East Rail Corridor Project in Chhattisgarh. CERL is a joint venture of South Eastern Coalfields Limited (SECL), IRCON, and Chhattisgarh State Industrial Development Corporation Limited (CSIDCL), PFC said in a statement. The loan documents for a term loan amounting to Rs 3,516.68 crore were executed on March 28, 2025, PFC said. The under-construction railway project is being developed primarily for transporting coal from multiple coal mines in the vicinity and connecting them to thermal power plants. Under Ministry of Power, PFC is a nodal agency for development of Integrated Power Development Scheme, Ultra Mega Power Projects and Bid Process Coordinator for Independent Transmission Projects.
Two special purpose vehicles (SPVs) have been incorporated under PFC Consulting Limited (PFCCL) for the development of transmission systems, a BSE filing said on Friday. NES Dharashiv Transmission has been incorporated for the transmission scheme for the development of a network expansion scheme in Maharashtra for evacuation of RE Power from Dharashiv, Beed district, Power Finance Corporation (PFC) said in the filing. NES NAVI Mumbai Transmission is for the transmission scheme of network expansion scheme in Maharashtra for providing supply to Data Centre Loads in Navi Mumbai. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of PFC. Maharashtra State Electricity Transmission Company Limited (MSETCL) has placed a Letter of Intent (LoI) dated January 17, 2025, appointing PFCCL as bid process coordinator (BPC) for the purpose of selection of transmission service providers (TSP) to establish the two transmission systems through a tariff-based competitive bidding process. Th
State-owned Power Finance Corporation on Thursday said that it has inked an initial pact to provide Rs 26,800 crore finance to power utilities of Madhya Pradesh. This funding will support capital expenditure projects for entities such as Madhya Pradesh Power Generation Company Ltd (MPPGCL), Madhya Pradesh Power Transmission Company Ltd (MPPTCL), and MP discoms (distribution companies), PFC said in a statement. Power Finance Corporation (PFC) has signed a Memorandum of Understanding (MoU) with the government of Madhya Pradesh to extend financial assistance of Rs 26,800 crore to the state's power utilities, the statement said. The financial assistance will be directed towards crucial infrastructure projects, including the development of new supercritical thermal units, solar power plants, renovation and modernisation of hydropower stations, power evacuation networks, smart metering, and loss reduction initiatives under the Revamped Distribution Sector Scheme (RDSS), ensuring energy ..
State-owned PFC on Thursday said it has inked an agreement with Japan Bank for International Cooperation (JBIC) for 120 billion Japanese yen (around Rs 6,600 crore) loan facility. According to a PFC statement, under the agreement signed on Wednesday, JBIC will provide funding of JPY 72 billion, and the balance will be funded by commercial banks. This long-term (up to 20 years ) loan to PFC will be provided under JBIC's initiative 'Global action for Reconciling Economic growth and Environmental preservation' (GREEN). The funds will be utilized by PFC to finance its renewable energy portfolio, advancing India's transition to non-fossil-fuel-based energy sources. This deal marks the largest green financing agreement ever executed by JBIC with any company in India. The loan agreement was signed by Parminder Chopra, Chairman and Managing Director, PFC and Ogawa Kazunori, Senior Managing Director, JBIC in the presence of Takashi Ariyoshi, Minister & Deputy Chief of Mission, Embassy of .