Page 2 - Power Finance Corporation

Fitch rates Power Finance Corporation's proposed EUR green bond BBB-minus

Fitch Ratings has assigned Power Finance Corporation's (PFC's) proposed Regulation S senior unsecured euro green bond a rating of BBB-minus.

Power Finance Corp inks pact with NHPC to finance hydro projects

State-owned Power Finance Corporation Ltd (PFC) on Tuesday said it has signed a pact with NHPC Ltd to lend funds for the development of hydro projects.

Disputed decline in power dues

The amount of money that remained outstanding after 45-to-60 days of grace period given to the distribution companies fell to about Rs 67,300 crore, over 20 per cent lower than what it was a month ago

Rs 75,000 cr disbursement to discoms under special liquidity scheme

Under the scheme, govt-owned lenders PFC and REC extended special one time loan to discoms to clear their due to the power generating companies

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