PFS sanctions Rs 1,100-cr loans for power sector

PTC India Financial Services Ltd (PFS) has sanctioned loans of about Rs 1,100 crore to provide financial assistance to the power sector.
"PTC India Financial Services Ltd... Sanctioned loans aggregating about Rs 1,100 crore for providing financial assistance to power/infrastructure sector in India," the company said in a release on BSE today.
These loans include four projects for renewable sector and two for transmission of power.
PFS is a leading infrastructure finance company promoted by PTC India Ltd.
PFS CEO and MD Ashok Haldia said, "The company continues to expand and reinforce its presence in financing of clean energy projects and other emerging areas of power sector. This shall help in further growth of the company and help consolidate PFS' position as a leading institution financing renewable energy projects in India."

The company offers an array of financial products to infrastructure companies in the entire energy value chain. It also provides fee-based services such as loan syndication and underwriting.

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The company's board sanctioned loans of Rs 1,100 crore at its meeting held on March 16, taking the cumulative loan sanctioning close to Rs 6,500 crore in 2015-16.
PTC India Financial Services (PFS) has sanctioned more than 75 per cent of its loan towards renewable energy at Rs 4,900 crore for the current fiscal ending March 31.
"The debt assistance sanctioned during the current year includes 48 projects and about Rs 4,900 crore in the renewable sector," it said.

The cumulative loan assistance sanctioned during the current financial year has exceeded Rs 4,112 crore in the year ago period, PFS said in a statement today.