Page 4 - Pfc

Apraava Energy inks pacts with REC, PFC to get Rs 9,120 cr for projects

Energy solution provider Apraava Energy has inked initial pacts with state-owned firms REC Ltd and Power Finance Corporation (PFC) to get finance of Rs 9,120 crore for funding its wind, transmission, and advanced metering projects in the country. The signing of MoUs took place as part of the Green Finance Summit organised by REC on the sidelines of the Green Business Summit Clean Energy Ministerial (CEM) and Energy Transition Working Group (ETWG) Ministerial held on July 21, 2023 in Goa against the backdrop of India's G20 Presidency, a company statement said. Apraava Energy signed the Memorandum of Understanding (MoUs) with REC Ltd and PFC for financial assistance worth Rs 9,120 crore (USD 1.1 billion), the company said. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, "This partnership further strengthens our roadmap to deliver sustainable and integrated growth in the future. We thank REC and PFC for placing their trust in our aspirations for a better

Sterlite Power acquires Fatehgarh III Beawar Transmission from PFC

Sterlite Power on Wednesday said it has acquired Fatehgarh III Beawar Transmission, a special purpose vehicle, from PFC Consulting Limited. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation Limited under the Ministry of Power. "Sterlite Power acquires Fatehgarh III Beawar Transmission Project in Rajasthan from PFC. The project was awarded to Sterlite Power through tariff-based competitive bidding process in March 2023," the company said in a statement. Through the Fatehgarh III Beawar Transmission Limited special purpose vehicle (SPV), the company will set up a critical transmission project in Rajasthan on build-operate-transfer mode for 35 years. The project will involve constructing a 350 kilometre, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan. It will enable evacuation of a part of 20 GW of renewable power from renewable energy zones in Fatehgarh (9.1 GW), Bhadla (8 GW) and Ramgarh (2.9 GW) areas of the state. Ster

Jaitley and Sitharaman: A look at divestment under the two NDA FMs

In his early days, PM Modi had said that the government would get out of most sectors, a vision which was given credence through the new policy of 'strategic sectors' announced by Sitharaman in 2020

F&O Strategy: Adopt Bull Spread Strategy for PFC, suggests HDFC Securities

Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to buy 170 call option of PFC & simultaneously sell 180 call option of June series

PESB recommends Parminder Chopra for PFC Chairman, Managing Director post

Parminder Chopra is set to head Power Finance Corporation (PFC), with PESB recommending her name for the post of Chairman and Managing Director (CMD) of the state-owned non-banking financial institution. Chopra currently serving as Director (Finance), will be the first woman CMD of the NBFC, under the Ministry of Power. She is also on the board of the company. In its notification dated May 8, the Public Enterprises Selection Board (PESB) said it has "recommended the name of Parminder Chopra for the post of Chairman & Managing Director, Power Finance Corporation". The official holds a bachelor's degree in Commerce and is a qualified Cost Accountant. She has over 35 years of experience in the power sector, including work experience at NHPC and the Power Grid Corporation of India (PGCIL).

HAL, PFC lead race for MSCI index, Adani Total, Kotak Bank in focus too

Analysts predict both PSU stocks to rake in huge passive inflows; Adani Transmission and Indus Towers could get removed from index

PowerMin invites bids to supply 4.5 Gw electricity during coming summer

Power to be supplied for five years, qualifying gencos to get coal under SHAKTI scheme

Stocks to Watch: Reliance, Nykaa, NDTV, Kaynes Technology, PFC, JK Paper

Stocks to Watch: Kaynes Technology will make its debut today. The issue price is fixed at Rs 587 per share

PFC logs highest ever quarterly profit of Rs 5,229 cr on higher revenues

Power Finance Corporation (PFC) on Thursday posted its highest ever quarterly profit after tax of Rs 5,229.33 crore for September quarter 2022-23 mainly due to higher revenues. The consolidated profit is 4 per cent higher as compared to the year-ago period when it logged a profit of Rs 5,023.42 crore, it said in a BSE filing. Total income rose to Rs 19,344.39 crore from Rs 19,282.60 crore in the same period a year ago. The board in its meeting on Thursday also approved second interim dividend of Rs 3 per share of Rs 10 each for 2022-23. The PFC group delivered its highest ever consolidated profit after tax (PAT) of Rs 5,229 crore in Q2FY23, it said in a statement. The group reported a PAT of Rs 9,809 crore in April-September FY23 as against Rs 9,578 crore in the year-ago period. The consolidated net worth crossed Rs 1 lakh crore mark and stood at Rs 1,02,280 crore (including non-controlling interest) as on September 30, 2022. This is reflective of PFC group's strong fundamentals

PFC eyes new infra, net zero value chain: Chairman & MD R S Dhillon

'PFC and REC have sanctioned close to Rs 2 trillion covering 36 discoms', said Dhillon

PFC's power drive flickering under record debt burden, govt scheme

The state-run financer for generators and distributors is struggling under a record debt burden even as it is being asked to underwrite the government's latest scheme to rescue inefficient discoms

Power shocks: Discoms need transparency

Only transparent pricing and accounting will help the discoms recover their dues

PFC Q1 profit up marginally at Rs 4,580 cr; income falls 2% to Rs 18,544 cr

The board in its meeting held on Friday approved an interim dividend of Rs 2.25 per equity share of face value of Rs 10 each for 2022-23.

Here's why Vinay Rajani of HDFC Securities is bullish on SBI, PFC

The technical analyst also recommends to hold Nifty longs with a stop at 16,100; on the upside, he expects resistance for the NSE benchmark around 16,520 and 16,794.

Bonanza for Indian euro loan borrowers as currency slides against dollar

Companies will have to buy fewer dollars to repay euro debt

PFC lists 300-million euro green bonds on Luxembourg Stock Exchange

PFC Chairman and Managing Director (CMD) RS Dhillon rang the bell at the listing ceremony held in GIFT IFSC Gujarat on Wednesday, the company said in a statement

Govt asks PFC, REC to give short-term loans to imported coal-based plants

The direction assumes significance in view of the power ministry's earlier order that asked all imported coal-based plants to produce electricity at their 100% generation capacity

Power Finance Corp pays Rs 887 crore as interim dividend to govt for FY22

Power Finance Corporation on Friday said it has paid Rs 886.97 crore as an interim dividend to the government for the financial year 2021-22. This is in addition to Rs 333 crore and Rs 370 crore paid as first and second interim dividend, respectively, earlier, Power Finance Corporation (PFC) said in a statement. PFC CMD Ravinder Singh Dhillon presented the interim dividend RTGS (Real Time Gross Settlement) intimation advice of Rs 886.97 crore to Minister for Power, New & Renewable Energy RK Singh in the presence of the Power Secretary Alok Kumar and other senior ministry and company officials. The third interim dividend at a rate of Rs 6 per equity share of face value Rs 10 each was declared by the Board of Directors in its meeting held on February 11, 2022. "With this, PFC has so far paid interim dividends amounting to Rs 2,838 crore to its shareholders...for the financial year 2021-22, which is the highest ever dividend paid by PFC," it said.

PFC net profit rises nearly 24% to Rs 4,893 cr in December quarter

The company had reported a consolidated net profit of Rs 3,963.18 crore in the quarter ended December 2020, a BSE filing stated

Sterlite Power acquires transmission project from PFC Consulting

Power transmission infrastructure developer Sterlite Power on Tuesday said it has acquired the Nangalbibra-Bongaigaon inter-state transmission project from PFC Consulting.