PTC Financial Services partners UKCI, DFID for India's first green fund

PFS separately raised a loan of Rs 1,000 crore from SBI for a 10-year tenure, linked to the marginal cost of funds-based lending rate

PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and Department for International Development (DFID), UK. The company has raised Rs 400 crore from State Bank of India under the credit enhancement scheme, enabling it to raise bonds worth Rs 2,000 crore.

It had last gone for a domestic bond issue in 2012, when it came up with an infrastructure bond under section 80CCF of the Income Tax Act that allowed exemption for investment in these bonds.

The Renewable Infrastructure Development