Power Finance Corporation (PFC) is working with the country’s biggest lender, State Bank of India (SBI), and others to resolve 11 stressed power projects among other resolution plans.
The state-owned power financier today said that under the SBI Samadhan Scheme, they are working out to bifurcate the good projects backed by the government’s power purchase agreements (PPAs) to be taken over by a new power developer or company.
“Under the scheme, we are working with the bank to resolve 11 power projects which are NPAs, of which we are the lead lenders in four projects. SBI will appoint two rating agencies (Crisil and India Ratings). They will give ratings and find out what will be the sustainable and unsustainable debt,” said Rajeev Sharma, Chairman and Managing Director of PFC. Read More