State-run Majors, PFC, NHPC, NTPC Set Ambitious Performance Fiscal Year Targets Updated On Wed, Sep 30th, 2020 by Saurenergy Leading state-run utilities Power Finance Corporation (PFC), NTPC and the NHPC signed agreements with the power ministry on Wednesday to set up ambitious performance targets for the current financial year, despite flagging demand in wake of the pandemic. The exercise is an annual process, wherein the firms under the ministry set targets for the next […] Read more
PFC Expects Additional Rs 35K Cr for Enhanced Discoms Funding Updated On Wed, Sep 23rd, 2020 by Saurenergy PFC has said that it expects additional funding requirements of Rs 35000 crore to meet the obligation for enhanced funding for power Discoms in near future. The Power Finance Corporation (PFC) has said that it expects additional funding requirements in a range between Rs 30,000 crore and Rs 35,000 crore to meet the obligation for […] Read more
Ministry of Power to set up Rs 2000 Cr JV to Ease Smart Meter Rollouts Updated On Wed, Sep 16th, 2020 by Saurenergy Ministry of Power has begun the process to set up a Rs 2,000 crore JV for providing a CBIF to power Discoms for faster roll-out of smart meters in the country The Ministry of Power has begun the process to set up a Rs 2,000 crore joint venture (JV) for providing a common backend infrastructure […] Read more
RK Singh Approves LoUs by IREDA, PFC, REC to be Accepted for EMDs Updated On Mon, Sep 7th, 2020 by Saurenergy RK Singh has approved a proposal for acceptance of LoU issued by IREDA, PFC & REC for EMD in tenders for developing renewable energy projects in the country RK Singh, the Minister for New & Renewable Energy and Power has approved a proposal for acceptance of Letter of Undertaking (LoU) issued by IREDA, PFC & […] Read more
PFC Records Growth in Both Topline and Bottomline in COVID Affected Q1 Updated On Fri, Aug 14th, 2020 by Saurenergy PFC has reported strong financial results for COVID affected Q1, recording growth both in its topline and bottomline for the quarter. Amid rising strain in the power sector with faltering demand and increasing indebtedness, state-owned power sector financing institution, Power Finance Corporation (PFC) has reported a strong outcome in its financial results for COVID affected April-June quarter […] Read more
PFC, REC may Restrict Funding for Projects Using Chinese Equipment Updated On Tue, Jun 30th, 2020 by Saurenergy The government’s economic response against China may see public-sector financiers like PFC, REC restricting funding of projects that use equipment from the country The government’s economic response against China may see public sector financiers restricting funding of projects that use equipment from the neighbouring country. The practice would first be adopted in the power sector, […] Read more
PFC, REC, IREDA to Lend at Lower Rates; Imported Solar Products May Face BCD from August Updated On Tue, Jun 23rd, 2020 by Saurenergy After putting an end on all the speculations, the government on Tuesday has hinted about its intentions for the imposition of basic customs duty (BCD) in near future instead of its earlier plan for next year. On the matter, Power Minister RK Singh informed industry stakeholders via video conferencing about his Ministry’s proposal to implement […] Read more
PFC to Fund Projects Worth Rs 22,000 Crore in Madhya Pradesh Updated On Wed, May 27th, 2020 by Saurenergy PFC has announced that it will fund 225 MW hydroelectric and other multiple purpose projects worth Rs 22,000 crore in Madhya Pradesh. State-owned power sector financing institution, the Power Finance Corporation (PFC) has announced that it will fund 225 MW hydroelectric and other multiple purpose projects worth Rs 22,000 crore in Madhya Pradesh. “PFC entered […] Read more
Govt to Offer Rebate to Discoms for Covid-19 Lockdown Period Updated On Sat, May 16th, 2020 by Saurenergy With an aim to provide relief to cash strapped power distribution companies (Discoms), the government has taken a slew of measures to help them, including providing a rebate for the lockdown period amidst the coronavirus pandemic. The power ministry’s move is in line with the Finance Minister Nirmala Sitharaman’s announcement on May 13, 2020, under […] Read more
