State-owned Power Finance Corporation Monday said it has raised USD 300 million (Rs 2,070 crore) loan from overseas. The loan has been jointly approved by State Bank of India, Hong Kong and MUFG Bank Ltd, Singapore.
Energy Efficiency Services (EESL) plans to install an aggregate 200 MW of grid connected solar rooftop across 5,000 state-owned buildings in Maharashtra in the next two years at a cost of around Rs 800 crore.
Ravinder Singh Dhillon took over as director (projects) in Power Finance Corporation, the company said in a statement. Presently serving as an executive director in PFC, Dhillon has more than 34 years of experience in various areas of power sector.
The Power Finance Corporation (PFC) plans fresh resolution of eight stressed power projects, including Essar Mahan’s 600 MW plant and GMR Raikheda’s 1,370 MW plant following the Supreme Court decision annulling an earlier RBI circular.
State-run Power Finance Corporation (PFC) would become more stringent in evaluating the creditworthiness of state-owned power distribution companies (discoms) as the sector-specific lender would now have to become more cautious about maintaining its capital levels
State owned Power Finance Corporation (PFC) on Thursday became the promoter of REC Ltd as it acquired the management control of the power sector lender, PFC chairman and managing director Rajeev Sharma said.
State-run Power Finance Corporation’s board has decided to set the company’s overall borrowing limit at Rs 81,000 crore for 2019-20.
State-owned Power Finance Corporation (PFC) on Thursday completed the acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government, an official said.
State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63 per cent stake in REC, a source said.
Shares of state-owned Power Finance Corporation (PFC) and REC rallied by up to 8 per cent on the BSE in the intra-day trade on Monday after PFC announced the acquisition of the Centre’s 52.63 per cent paid-up share capital in REC. The board of directors approved the acquisition cost of about Rs 14,500 crore.