PFC, a Maharatna company and the leading NBFC in Indian power sector has signed a Loan Agreement for JPY 30 Billion with Japan Bank for International Cooperation (JBIC) on 7th July, 2022. JBIC provided this long term facility to PFC under JBIC’s initiative titled ‘Global action for Reconciling Economic growth and Environmental preservation’ (“GREEN”), wherein JBIC provides financing for projects which ensure the effective reduction of greenhouse gas emissions and conservation of the global environment. Thus, the funds under the facility would be used by PFC to finance its renewable energy portfolio.
The loan agreement was signed by Mr. R.S. Dhillon, CMD, PFC and Mr Kazushige Gobe, Director General, Social Infrastructure Finance Department, JBIC in the presence of Mrs. Parminder Chopra, Director (Finance), PFC & Mr. R.R. Jha, Director (Projects), PFC and Mr. Toshihiko Kurihara, Chief Representative, JBIC New Delhi Office.
During the ceremony, Mr. R.S. Dhillon, CMD, PFC commented that this facility from JBIC would be a landmark transaction demonstrating the Quad Partners’ strong unity and robust commitment to the Indo-Pacific region, while also enhancing the bilateral cooperation between Japan and India. This facility would also help PFC in providing competitive rates for renewable power projects.