Page 4 - Power Finance Corporation

PFC, REC reduce lending rates by up to 2 percentage points from April 1

State-owned non-banking financial firms Power Finance Corporation (PFC) and REC will reduce lending rates by up to two percentage points from April 1, 2021.

PFC raises $500 million in India's longest-tenure issue of USD bonds

Fixed coupon of 3.35%, maturing May 16, 2031

PFC's Rs 5K-cr bond issue subscribed 94%; likely to close on Monday

State-run Power Finance Corporation's Rs 5,000 crore taxable non-convertible debentures issue was subscribed 94 per cent on the first day on Friday and is likely to close on Monday, a source said.

Power Finance Corp to launch maiden public bond sale for retail investors

PFC is planning to raise Rs 5,000 crore in the first tranche, proceeds to be used for funding projects in the renewable energy and transmission & distribution segment

Power Finance Corp to sell bonds worth $1.4 billion to individual investors

Power Finance Corp. has filed a draft prospectus for a 100-billion-rupee offering ($1.4 billion), and plans to raise the entire sum this quarter

Power Finance Corporation net profit up 72% to Rs 4,290 cr in Sept quarter

Its net profit was Rs 2,497 crore in the quarter ended September 30, 2019

PFC, REC sanction loans worth Rs 1.18 trn under discom liquidity package

Both the firms have disbursed around Rs 31,100 crore under the package

Power Finance Corp dismisses speculations over FPO in near future

State-owned non-banking finance firm Power Finance Corporation (PFC) on Tuesday dismissed speculations about the launch of follow on public offer (FPO) to raise funds in near future.

Loans worth Rs 70K cr sanctioned to discoms under liquidity package: Govt

Finance Minister Nirmala Sitharaman in May this year had announced a Rs 90,000 crore liquidity infusion into cash-strapped discoms for clearing their outstanding dues till March 2020

Renewable, T&D assets dominate PFC & REC loan books as thermal loses steam

Stress in conventional power generation space and no new private investment in the sector see the two lenders gradually shift to newer areas

PFC Q1 net profit up 23% to Rs 3,557 cr, income up at Rs 16,932.2 cr

The company had posted a net profit of Rs 2,899.74 crore during the same quarter a year ago, PFC said in a BSE filing

PFC ties up with IIT-Kanpur for research, training in smart grid technology

State-owned Power Finance Corporation (PFC) on Wednesday said it has signed an agreement with the Indian Institute of Technology- Kanpur for training, research, and entrepreneurship development in smart grid technology. As per the memorandum of association, the PFC will provide financial assistance of Rs 2.38 crore (Rs 2,38,97,000) to IIT-K under its CSR initiative. The objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology, R Murahari, Executive Director (CSR&SD), PFC, said. As part of the project, the IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to nine selected candidates for development of ideas on smart grid technology. The fellows will be assisted by startup Innovation and Incubation Centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

Power policy puts the cart before the horse

The foremost question is whether the tariff policy is mandatory or discretionary

Govt likely to hike liquidity package for discoms to Rs 1.25 trillion

"Ministry of Power has firmed up a proposal to hike the Rs 90,000 crore liquidity package for discoms to Rs 1.25 trillion," a source privy to the development said

PFC ends FY20 on a strong note, with loan sanctions of over Rs 1 trillion

State-owned financier Power Finance Corporation has ended financial year 2019-20 on a strong note, despite numerous challenges, including the outbreak of Covid-19

Rs 90,000 cr discom package: Street anxious over impact on PFC and REC

While state government guarantee offers comfort, operational inefficiency may continue to impact debt servicing ability of electricity distributors, say experts; the two stocks are down 10-13 per cent

Power Finance Corp profit down 13.6% in Dec quarter to Rs 2,395 crore

Total income rose to Rs 15,878 crore, from Rs 14,051 crore

Rattan India Power turns green in Q3 after project debt resolution

Shelves Phase-II of Amravati Power Project due to lack of PPA in market

IL&FS wants NCLAT direction on removal of PFC as one of its top 5 creditors

IL&FS will seek directions from the NCLAT for removal of Power Finance Corporation (PFC) as one of the top five creditors, due to the transfer of wind power assets.

Centre deallocates Odisha coal block allotted to PFC arm for power project

The coal ministry had in 2010 allocated the coal block in Odisha for a 4000 MW power project to be set up by Sakhigopal Integrated Power Company Ltd