PFC Approves Nearly ₹21 Billion for Sterlite's ISTS Project Connecting West & Northeast

PFC Approves Nearly ₹21 Billion for Sterlite’s ISTS Project Connecting West & Northeast

Mumbai-based power transmission company Sterlite Power secured the financial closure for its Vapi II North Lakhimpur Transmission Limited (VNLTL). Sterlite said that the total debt funding of ₹20.7 billion (~$281 ...
/ / Grid, T&D
REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Limited has approved a ₹27.9 billion (~$380.9 million) loan to the Jammu Kashmir Power Corporation Limited (JKPCL) under the liquidity infusion program of the Indian Government’s Aatmanirbhar Bharat initiative. The ...
Power Ministry Decides to Check Erratic Late Payment Surcharges, Proposes Rules

Power Ministry Decides to Check High Late Payment Surcharges, Proposes Rules

The Ministry of Power (MoP) has proposed Late Payment Surcharge Rules 2020. The government has noticed the extremely high rate of late payment surcharges prevailing in the sector. It has ...
/ / Grid, Market & Policy
PFC and REC to Infuse ₹3 Billion to Set up Backend Infrastructure for Smart Meters

PFC and REC to Infuse ₹3 Billion to Set up Backend Infrastructure for Smart Meters

The Power Finance Corporation Limited (PFC), in a recent filing on the Bombay Stock Exchange (BSE), said that it had approved the infusion of ₹1.5 billion (~$20.4 million) in a ...
/ / Grid, Market & Policy
LOUs from IREDA, PFC, REC to Serve as Bank Guarantees for Solar Tenders

LoU from IREDA, PFC, REC to Serve as Bank Guarantees for Solar Tenders

Union Power Minister R.K. Singh has approved the proposal to accept letters of undertaking (LoU) from three non-banking financial institutions that can be used like bank guarantees in renewable tenders ...
/ / Markets & Policy, Solar
Andhra Pradesh Releases ₹9 Billion to Pay NTPC Towards Letter of Credit

Andhra Pradesh Releases ₹9 Billion to Pay NTPC Towards Letter of Credit

The government of Andhra Pradesh approved ₹9 billion (~$123 million) to meet the expenditure of the state distribution companies (DISCOMs) in line with the payment mechanism notified by the central ...
/ / Grid, Market & Policy
The Government of India (GOI) has approved a relaxation for Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) that have been tasked with managing the liquidity crisis of the distribution companies.

PFC and REC Get Relaxation on Loan Disbursal for DISCOMs under UDAY Program

The Government of India (GOI) has approved a relaxation for Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) that have been tasked with managing the liquidity crisis of the ...
/ / Markets & Policy, Solar
Power Finance Corporation Releases ₹306 Billion as Part of DISCOMs’ Liquidity Package

Power Finance Corporation Releases ₹306 Billion as Part of DISCOMs’ Liquidity Package

The Power Finance Corporation Limited (PFC) has approved ₹306.07 billion (~$4.09 billion) as of July 31, 2020, as part of the liquidity package announced by the government for eligible distribution ...
/ / Grid, Market & Policy
Power Finance Corporation Offers Loans of Over ₹1 Billion to Solar Project Developer

Power Finance Corporation Offers Loans of Over ₹1 Billion to Solar Project Developer

KPI Global Infrastructure Limited, a subsidiary of the KP Group, announced that it had received financial assistance for 15 MW of existing and 20 MW of proposed solar power projects ...
/ / Finance and M&A, Solar
Over ₹300 Billion Released by REC Under DISCOMs’ Liquidity Package

Over ₹300 Billion Released by REC Under DISCOMs’ Liquidity Package

REC Limited, formerly called the Rural Electrification Corporation Limited, reported that it had sanctioned over ₹300 billion (~$4 billion) to distribution companies (DISCOMs) in the country as of July 31, ...
Power Finance Corporation Gives ₹23.89 Million to IIT-Kanpur for Smart Grid Research

Power Finance Corporation Gives ₹23.89 Million to IIT-Kanpur for Smart Grid Research

The Power Finance Corporation Limited (PFC Limited) has signed a Memorandum of Association (MoA) with the Indian Institute of Technology – Kanpur (IIT-K) for training, research, and entrepreneurship development in ...
/ / Grid, Smart Grid
Solar Association Asks ₹50 Billion Fund Allocation for Cash-Strapped Andhra DISCOMs

Solar Association Asks ₹50 Billion Fund Allocation for Cash-Strapped Andhra DISCOMs

The National Solar Energy Federation of India (NSEFI) has requested the Union Power Minister R.K. Singh to set aside ₹50 billion (~$666.2 million) from the distribution companies (DISCOMs) liquidity package ...
/ / Grid, Market & Policy
RK Singh Addresses Renewable Industry Stakeholders, Emphasizes on Self-Reliance

RK Singh Addresses Renewable Industry Stakeholders, Emphasizes on Self-Reliance

The Union Power Minister, RK Singh, recently interacted with developers of generation and transmission projects in the power and renewable sectors. The minister reiterated the need for ‘Aatmanirbhar Bharat’ to ...
PGCIL Approves ₹10.75 Billion As Rebate to DISCOMs on ISTS Charges Amid COVID Crisis

PGCIL Approves ₹10.75 Billion as Rebate to DISCOMs on ISTS Charges Amid COVID Crisis

The Power Grid Corporation of India Limited (PGCIL) announced that it had approved ₹10.75 billion (~$142.5 million) as a one-time consolidated rebate to distribution companies (DISCOMs) and power departments of ...
PFC Readies to Set Up Transmission Systems To Evacuate 35.9 GW of Solar Power

PFC Readies to Set Up Transmission Systems to Evacuate 35.9 GW of Solar Power

The Power Finance Corporation (PFC), the financial backbone of the Indian power sector, announced the incorporation of five of its special purpose vehicles (SPV) as wholly-owned subsidiaries of PFC Consulting ...
/ / Grid, T&D
PFC Tenders Transmission Systems for 2.5 GW of Wind Projects in Tamil Nadu

PFC Tenders Transmission Systems for 2.5 GW of Wind Projects in Tamil Nadu

PFC Consulting, a subsidiary of Power Finance Corporation, has issued a tender for shortlisting transmission service providers. These service providers will help develop transmission systems for the evacuation of 2.5 ...
/ / Grid, T&D
Power Finance Corporation Raises $300 Million Through Syndicated Loan

Power Finance Corporation Raises $300 Million Through Syndicated Loan

The Power Finance Corporation (PFC) has announced that it has raised $300 million through a three-year syndicated loan from the State Bank of India, Honk Kong and MUFG Bank, Singapore ...
India’s NBFC Crisis Exacerbating Financing Challenges for Utility-Scale Solar Projects

India’s NBFC Crisis Exacerbating Financing Challenges for Utility-Scale Solar Projects

Since September 2018, India’s Non-Bank Financial Companies (NBFC) have been in a crisis after Infrastructure Leasing, and Financial Services (IL&FS) admitted to defaulting on several payments to its creditors, consequently ...
PTC India FInancial and USICEF Partner to Finance Distributed Solar Projects in India

PTC India Financial and USICEF Partner to Finance Distributed Solar Projects in India

Indian infrastructure finance company, PTC India Financial Services (PFS), has partnered with the U.S.-India Clean Energy Finance (USICEF) to mobilize debt financing for distributed solar energy in India. This is ...
/ / Finance and M&A, Solar
Government Likely to Amend Electricity Act to Ensure that DISCOMs Enter PPAs

₹5.75 Billion Given to Six States to Curtail Their AT&C Losses Still Remain Unutilized

The Power Finance Corporation (PFC) has written to six states regarding the timely completion of implementing the supervisory control and data acquisition (SCADA) /distribution management system (DMS) under the government’s Restructured ...
/ / Grid, Market & Policy
German Solar Developer ib vogt GmbH Acquires Majority Stake in Singapore’s nv vogt

Power Finance Corporation’s Acquisition of 52% Stake in REC Approved

The Competition Commission of India has announced that it has approved Power Finance Corporation’s (PFC) acquisition of 52% stake in Rural Electrification Corporation (REC). In December 2018, the acquisition received ...
/ / Markets & Policy, Solar
More Project Commissioning Delay Cases in Telangana Ruled in Favor of Project Developers

Cabinet Gives In-Principle Approval to REC Ltd’s Takeover by Power Finance Corporation

The Indian government’s Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for the takeover of REC Limited (Formerly, Rural Electrification Corporation of India), a public sector enterprise, by the ...
/ / Finance and M&A, Other
Low Tariffs in Solar Could Result in A Wave of Project Refinances: Panel Discussion

Low Tariffs in Solar Could Result in a Wave of Project Refinances: Panel Discussion

India has witnessed exponential growth in renewable energy installations in the past four years with cumulative installations rising from 3 GW to 25 GW during the  period. Over this period, ...
PFC Provides ₹13.5 Billion in Financial Aid to Bihar for Transmission Line Project

PFC Provides ₹13.5 Billion in Financial Aid to Bihar for Transmission Line Project

The Power Finance Corp (PFC), a government of India enterprise, has approved a financial aid of ₹13.5 billion (~$212 million) to Bihar for a transmission line project. The aid has ...
/ / Grid, Utilities
December 2017 Wrap-up_ New Developments in India’s Solar and Renewable Energy Sector

December 2017 Wrap-up: New Developments in India’s Solar and Renewable Energy Sector

A rundown of notable news covering everything from auctions and deals to tax developments from the month of December December proved to be a crucial month for India’s renewable energy ...
/ / Markets & Policy, Solar