 "power, electricity, plant, renewables, thermal")
Power Finance Corporation (PFC) continues to fund non-performing assets in thermal coal sector some of which are obsolete and economically unviable projects that run the risk of turning into stranded assets in the future.
“When India’s government-owned PFC acquired the REC (Rural Electrification Corporation), it formed the country’s largest non-banking finance company (NBFC) and a critically important lender for India’s power sector, with a total asset book approaching $100 billion as of last December (2020),” said Kashish Shah, energy finance analyst with US-based think tank Institute for Energy Economics & Financial Analysis (IEEFA).
PFC and REC have lent extensively to coal-fired power
