Page 5 - Power Finance Corporation

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

Power Finance Corporation raises global bond issuance size to $5 billion

The company also launched issuances of $3 million worth bonds at 3.25 per cent due in 2024 and $450 million at 3.90 per cent due in 2029

PFC plans to raise up to Rs 4,000 crore in capital through tier-II bonds

At present, tier II is 3%, which PFC will hike to 5%

PFC slips 5% following Cabinet nod on merger with REC

The government has a total 58.3% stake in REC, the remainder of which is part of Bharat 22 ETF and CPSE ETF. The move will help the Centre meet its disinvestment target of Rs 800 billion for FY19

Power Finance Corporation profit surges 22% to Rs 13.73 billion in Q1

According to the filing, the company's total revenues rose to Rs 70.27 billion in the quarter, compared to Rs 67.28 billion in the year-ago period

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

Global firms line up for buying Power Finance Corp's stressed assets

Bank of America Merrill Lynch, Edelweiss and JM Financial are some of the financing agencies that may bid for the three stressed power projects

PFC working to cut NPAs by 10%, bring them down to Rs 15 bn in FY19

In order to improve its performance, the company has aimed to increase disbursal to 92 percentage this fiscal from 91 percentage of total available funds in 2017-18

PFC's power projects with 14,000 Mw capacity to go down insolvency alley

Around 14,000 Mw of projects, involving Rs 300 bn of its loan book, under IBC route and over half of them may have to be written off

PFC, REC may be close to bottom: Credit growth, asset quality may improve

Credit growth, asset quality of companies likely to improve