Ministry of Power

Power Finance Corporation holds Conference for State Power utilities of Eastern and North Eastern Region

Posted On: 01 MAR 2024 4:41PM by PIB Delhi

The Power Finance Corporation Ltd. (PFC), a Maharatna Central Public Sector Enterprise under the Ministry of Power, recently organised a Conference of ‘Eastern & North Eastern State Sector Utilities’ on “PFC’s Financing in Dynamic Regulatory Environment” in Kovalam, Kerala. 17 state-sector Power and Infrastructure Utilities of Eastern and Northern Eastern Region participated in the conference. Chairpersons and MDs of seven state power utilities, Directors of various State Utilities and officials of the utilities were also present.

CMD, PFC, Smt. Parminder Chopra; Director (Projects), Shri Rajiv Ranjan Jha; Executive Director (Projects), Shri H K Das and other senior PFC officials attended and shared their thoughts with the participants.

During the conference, PFC shared details about its products, including long-term and short-term loans, revolving credit facilities, the Sanction & Disbursement Mechanism. PFC officials informed participants also about the mandate recently entrusted to the corporation, of funding the Logistics and Infrastructure sectors. Information was given also about the various schemes of the Ministry of Power such as Revamped Distribution Sector Scheme (RDSS). PFC also urged State Utilities to comply with the Additional Prudential Norms (APN) stipulated by the Ministry of Power, so as to strengthen the State Utilities. PFC also assured them of providing consultancy and technical assistance in implementing these projects.

PFC stressed the need for State Utilities to focus on renewable energy projects, infrastructure strengthening and other capacity-building projects in their region and assured them of its support, including consulting solutions and sanction of funds through loans (capex and non-capex) that could be customised to meet their requirements.

The senior officials of State Utilities shared their valuable feedback and expectations from financial institutions like PFC in meeting the challenges faced by Utilities. The officials also expressed their gratitude to PFC for providing this platform for facilitating the exchange of experiences and concerns at the highest level.

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