PFC Issues Tender for Procurement of Aggregate Power Including RES with Storage

PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited, has invited proposals for the “Procurement of Aggregate Power requirement of Group of States” for undertaking tariff based competitive bidding for medium term procurement of Power”. PFC is the authorized representative appointed by the Ministry of Power under para B (v) of […]

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EV Ride Hailing Service BluSmart Rakes Up $42M to Augment Operations

EV ride-hailing firm BluSmart Mobility, which also serves as an EV charging superhub infrastructure operator, has shared that it has pocketed $42 million in its recently held round in April. BluSmart Mobility will employ the funds raised to expand reach into mega cities, and expand fleet to 10,000  over the next year. BluSmart boasts of […]

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PFC Approves Rs 633 Cr Loan for Deployment of 5000 EV Cabs, 1000 EV Cargo Vehicles

CPSU under the Ministry of Power, Power Finance Corporation (PFC) has given a loan sanction worth Rs 633 crore to Gensol Engineering Ltd. This loan will facilitate the purchase of 5,000 passenger electric vehicles and 1,000 cargo EVs. Gensol Engineering delves into the commissioning of solar projects in India and abroad and is a maker […]

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PFC Backs Vibrant Energy With Over INR 2,200 Cr Funding For 300 MW Hybrid Projects

An owner and developer of corporate renewable energy solutions, Vibrant Energy, has secured more than INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC). This funding will aid the firm in establishing 300 MW (AC) of wind-solar hybrid projects in Madhya Pradesh and Karnataka. Vibrant Energy claims this financing will be among […]

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PFC Inks Loan Agreement Pact with Japan Bank for Project Loan of INR 165 Cr

Maharatna firm Power Finance Corporation (PFC) and non-banking financial company has entered into an agreement with Japan Bank for International Cooperation (JBIC). The pact is for a project loan worth JPY 2.65 billion, which is close to Rs 165 crore. With the agreement, JBIC is looking to finance PFC’s projects that will curb greenhouse gas […]

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PFC’s Consolidated Profit Climbs 7% at Rs 5241 Cr in Dec Quarter

State-owned non-banking financial firm Power Finance Corporation (PFC) has reported a 7% increase in its consolidated profit, standing at Rs 5,241.10 crore in December quarter. Higher revenues have contributed to this increase. PFC’s consolidated net profit was pegged at Rs 4,893.91 crore in FY22 October-December quarter. The cumulative income of the firm rose to Rs […]

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EESL Issues Tender for 24 MW Solar Module for Maharashtra

A Joint Venture of NTPC Limited, Power Finance  Corporation, REC and POWERGRID- Energy Efficiency Services Limited (EESL)- has floated a tender for 24 MW solar modules supply for Maharashtra. According to the tender document, all solar modules should be poly-crystalline & the capacity of all modules should be 330 WP or above. The modules are […]

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Power Finance Corp Signs Loan Agreement With Japan Bank For JPY 30 Billion

An Indian financial institution under the ownership of the Ministry of Power, Power Finance Corp (PFC) has signed a loan agreement with Japan Bank for International Cooperation (JBIC). Through this loan agreement, Power Finance Corp will seek JPY 30 billion as loan amount from JBIC. As part of its “Global action for Reconciling Economic growth […]

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