Power Finance Corp Signs Rs 2.37 Lakh Cr MoU with 19 Clean Energy Firms

Power Finance Corporation has executed various MoUs of more than Rs 2.37 lakh crore with more than 19 companies in both the public and private sectors. The company recently diversified its loan portfolio by foraying into infrastructure projects such as refineries, ports and metro. 

Power Finance Corporation’s (PFC) wholly-owned subsidiary – PFC Consulting (PFCCL) has recently incorporated a Special Purpose Vehicle (SPV) as its wholly-owned subsidiary (WOS) namely ‘Koppal II Gadag II Transmission’ for the development of a Transmission Scheme for Integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and Gadag-II (Phase- A) in Karnataka. 

PFCCL has been nominated as the Bid Process Coordinator for the selection of developers through tariff-based competitive bidding for the Independent Transmission Projects (ITPs) by the Ministry of Power, Gol. As per the provisions of tariff-based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance.    

Power Finance Corporation Limited, incorporated in 1986, is a non-banking financial company (NBFC) with infrastructure finance company status. It was set up by the Government of India (GoI) as a specialised financial institution to fund projects in the domestic power sector. 

Today, the stock opened at Rs 225.60, with a high and low of Rs 228.25 and Rs 224.60. The stock is currently trading at Rs 227.50, up by 0.62%.  

The stock has a 52-week high of Rs 230.40 and a 52-week low of Rs 100.85. The company has a ROCE of 9.38% and an ROE of 20.4% with a market capitalisation of Rs 60,062 crore. 

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