State-run Power Finance Corporation (PFC) has reported a net profit Rs 2,355 crore for the financial year ended March 31, against Rs 1,970 crore in 2008-09, up 20 per cent. Its income rose 23 per cent to Rs 8,074 crore against Rs 6,584 crore. Loan assets increased to Rs 79,856 crore from Rs 64,429 crore.
PFC, whose sanctions rose to Rs 65,466 crore and disbursements to Rs 25,808 crore in 2009-10, plans to explore possibilities of financing nuclear power projects in the country. India is expected to increase nuclear generation capacity to 63,000 Mw by 2032 from the present level of 4,105 Mw with an estimated investment of over $80 billion.
PFC Chairman and Managing Director Satnam Singh told reporters on Tuesday that as a beginning, the company would soon enter into an MoU with Nuclear Power Corporation to finance the capital outlay and offer services.
“Initially, PFC can provide finance two-three nuclear projects. PFC can provide 100 per cent of its net worth with additional five per cent with the approval of board,” he added.
Besides, he informed that PFC has received request for providing finances for wind power equipment manufacturing unit and also for wind power generation projects.