PFC signs MoU with Power Ministry for FY ’23 with emphasis on renewable energy and infra dev.

New Delhi: Power Finance Corporation Limited – the Maharatna Central Public Sector Enterprise and the largest government owned NBFC has signed an MoU for FY 2022-23 with the Ministry of Power, earlier this week, in line with the DPE guidelines.

Mr. Ravinder Singh Dhillon, CMD, PFC signed the MoU with Mr. Alok Kumar, Secretary, Ministry of Power in the presence of Ashish Upadhyaya, Special Secretary & FA, MoP, Ajay Tewari, Additional Secretary, MoP, Piyush Singh, Joint Secretary, MoP, Smt. Parminder Chopra, Director (Finance), PFC, and Rajiv Ranjan Jha, Director (Projects), PFC.

Established in 1986, PFC today is the largest government owned NBFC in India. In 2021, it became the first CPSE to be accorded the prestigious Maharatna status in the financial space. PFC has been showing a strategic shift in its loan portfolio with focus on the Renewables space, setting itself as one of the largest funding agencies for renewables in the country.  Recently the company got its Memorandum of Association changed to fund the infrastructure and logistics space as well. It is a key partner to Government of India for implementation of several schemes such as Revamped Distribution Sector Scheme (RDSS), Liquidity Infusion Scheme under AtmaNirbhar Bharat, Late Payment Surcharge Rules (LPS), Independent Transmission Projects (ITPs) etc. and has been one of the highest dividends paying companies.