The Power Finance Corporation (PFC) has stated that eight companies have evinced interest in developing Rs 24,200-crore Cheyyur ultra mega power project (UMPP) in Tamil Nadu. The UMPP is India´s first coastal power plant, to be bid out with an attached captive port. PFC is the nodal agency for UMPPs
Tag: Power Finance Corporation
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Power Finance Corp posts Rs 1,274 cr profit
The Power Finance Corporation (PFC) has stated in a regulatory filing that it has posted 23 per cent jump in net profit at Rs 1,273.79 crore for the three months ended September. PFC, a government-owned company and a key lender for the power sector, had a net profit of Rs 1,036.49 crore in the year-ago period.
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PFC to issue tax free bonds
State-run Power Finance Corp is in the process of issuing around Rs 150 crore ($23 million) worth of tax-free bonds across different maturities. While the firm would issue 10-year tax-free bonds at 8.04 percent, 15-year bonds at 8.41 percent, and 20-year bonds at 8.40
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Power sector debts at `972,900 cr
The total outstanding loans from banks/financial institutions (including bonds) for all the utilities in the power sector during the years 2009-10 to 2011-12 stands at Rs Rs 972,900 crore. As per a report by the Power Finance Corporation (PFC), during 2009-10
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13 govt firms allowed to raise Rs 48,00 cr via bonds
To facilitate infrastructure needs of public sector institutions the Union government has permitted 13 such institutions to raise Rs 48,000 crore via tax free bonds in 2013-14. With this the government, for the first time, has allowed sovereign wealth funds (SWFs) in the private placement segment of these bonds.
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13 govt firms allowed to raise Rs 48,00 cr via bonds
To facilitate infrastructure needs of public sector institutions the Union government has permitted 13 such institutions to raise Rs 48,000 crore via tax free bonds in 2013-14. With this the government, for the first time, has allowed sovereign wealth funds (SWFs) in the private placement segment of these bonds.
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PFC may buy stake in NCC-Gayatri plant for Rs 200 cr
The Power Finance Corporation is close to sealing its maiden equity deal by buying a stake in the 1,320 mw coal-based power plant owned jointly by Hyderabad-based companies-NCC and Gayatri Projects. PFC aims to buy 10-15 per cent stake for Rs 200 crore in the NCC-Gayatri project that is being set up at a total cost of Rs 7,000 crore at Krishnapatnam in Nellore district of Andhra Pradesh.
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PFC plans banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licences, Power Finance Corporation (PFC) plans to apply for a license to launch banking operation.
Satnam Singh, Chairman and Managing Director of the power sector lender said his firm
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Power Finance Corp cuts renewables interest rates
Power Finance Corporation has reduced its interest rates for renewables projects by 50 basis points, equating to a 0.50 per cent cut. The State lender to electricity utilities claims to have approved Rs 23.13 billion ($430 million) for 611 mw of renewable capacity in the year ending March 2012. According to Bloomberg, the company has lent a total Rs 53.73 billion to wind, solar and hydro projects.
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PFC to raise $250 m
Power Finance Corporation (PFC) will raise $250 million through external commercial borrowing (ECB), looking at expanding its portfolio by funding coal mining projects overseas.