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PFC signs MoU with Ministry of Power for FY ’24 & FY ’25

PFC also leads India’s energy transition, having the largest renewable loan portfolio

New Delhi: Power sector Maharatna PSU, Power Finance Corporation Limited (PFC) signed a Memorandum of Understanding (MoU) with the Ministry of Power for FY 2023-24 and FY 2024-25 on October 23 as per the DPE’s performance evaluation system. The MoU was signed by Mr. Pankaj Agarwal, Secretary, Power and Smt. Parminder Chopra (CMD, PFC) in the presence of senior officials of the Ministry of Power and PFC. PFC is the largest Maharatna CPSE and largest NBFC in India on a consolidated basis. PFC also leads India’s energy transition, having the largest renewable loan portfolio. Additionally, PFC has also started funding projects in infrastructure and logistics space, according to a company Press release.

DPE’s MoU performance evaluation system is used for setting annual targets for the CPSEs on various financial and operational parameters, and the CPSE’s overall performance is rated against such MoU targets. PFC has been awarded the highest rating of “Excellent” during the last two years (i.e. FY 2020-21 & FY 2021-22), and rating for FY 2022-23 is expected to be released soon.

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