Incorporated on July 16th, 1986, Power Finance Corporation Ltd. (PFC) is a Schedule-A Navratna CPSE, and is a leading Non-Banking Financial Corporation in the country. PFC’s registered office is located at New Delhi and regional offices are located at Mumbai and Chennai.
Features of PFC
- PFC is under the administrative control of the Ministry of Power.
- PFC was conferred the title of a ‘Navratna CPSE’ in June, 2007 and was classified as an Infrastructure Finance Company by the RBI on 28th July, 2010.
- It is the largest NBFC by net worth and a dominant player with around 20% market share.
- It is designated as a nodal agency for development of Integrated Power Development Scheme(IPDS), Ultra Mega Power Projects (UMPPs) and bid process coordinator for Independent Transmission Projects (ITPs)
- Since its inception, PFC has been providing financial assistance to power projects across India including generation, transmission and distribution.
- Recently, it has forayed into financing of other infrastructure projects which have backward linkages to the power sector like coal mine development, fuel transportation and oil & gas pipelines.
- The borrower profile includes state electricity boards, state sector power utilities, central sector power utilities and private sector companies.
- The company also has the mechanism of rating different state power utilities on their performance.
- PFC is also one of the promoters in Energy Efficiency Services Limited (EESL), with NTPC, Powergrid and REC being the other promoters.
Source: pfc website
