Power Finance Corp to fund Smart City projects now

The state-run Power Finance Corp Ltd (PFC) is planning to start lending to projects such as Sewage Treatment Plants, Smart Cities, Railway Electrification, Mining, Electric Vehicle Charging Stations, Mini Grids, among others.

The company is looking for other options as well to diversify its loan portfolio rather than being limited  only to thermal, hydro, and renewable power projects across the country, Rajeev Sharma, PFC Chairman, Managing Director.

PFC has also ventured into electro and mechanical components of irrigation schemes of Telangana by disbursing Rs 2,000 crore and sanctioning loans worth Rs 12,000 crore.

From the total of Rs 2.70 lakh crore, Rs 2.28 lakh crore is towards government-owned projects and about Rs 51,000 crore has been extended to private power projects.

Our 89 per cent of the total asset book does not have any kind of stress, but the remaining 11 per cent stress (worth Rs 31,000) is from the private lending, said the PFC Chairman.

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