PTC India Financial Services thermal energy exposure to go below 10%

PFS says it is shifting its focus towards renewable energy (RE), roads and transmission

PTC Financial Services, a non-banking finance company (NBFC), will see its exposure to stressed thermal power assets come down to nine per cent of its total loan book, with resolution of Jaypee’s Prayagraj power project reaching conclusion. The project was awarded to Resurgent Power, a joint venture of Tata Power and ICICI Ventures, under Insolvency & Bankruptcy Code (IBC) prccedings. The award got embroiled in a regulatory tussle with host state Uttar Pradesh over reducing of rates. The Appellate Tribunal for Electricity gave a favourable order last week, giving a green light to the purchase. PFS is one of the