PFC looks beyond electricity sector, eyes farm, rail and smart cities

Around 80,000 mw of power generation assets, including 14,000 mw of PFC's loan book, are under IBC proceedings

As its core business sector faces insolvency heat and with no new big projects in sight, Power Finance Corporation (PFC) is looking beyond the electricity sector. 

The government-owned financier is looking to diversify its loan portfolio to fund irrigation schemes, railway electrification, the Smart Cities project and e-vehicle manufacturing & charging infrastructure.

Around 80,000 mw of power generation assets, including 14,000 mw of PFC’s loan book, are under Insolvency & Bankruptcy Code proceedings. And, likely to land at the National Company Law Tribunal if no debt resolution is achieved. 

Last year, PFC ventured into renewable energy with separate lending schemes.