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PFS inks ECB loan agreement with IFC for funding renewable projects in India

New Delhi-based PFS – incorporated in 2006 – is the investment arm of power trading firm PTC India Ltd. PFS invests in projects, fuel sources, related infrastructure like gas pipelines, LNG terminals, ports, equipment manufacturers like transformers, conductors, insulators, cables etc.

We had mentioned in February this year that , IFC was planning to provide $50 Mn loan to PTC India Financial Services Ltd (PFS), which will be used for lending to companies and projects in the renewable energy space in India.

PTC India Financial Services listed on the Indian stock markets in April this year. Earlier, PFS was in talks to tie up with two foreign PE players and launch a $100 million fund.

According to reports, PTC India Financial Services Ltd. (PFS) has signed an agreement for External Commercial Borrowing (ECB) of US$ 25 Million from International Finance Corporation (IFC) on 28th April 2011. 

PFS has already signed agreement for ECB of US$ 26 million with DEG. PFS intends to sign agreement for another ECB of US$ 25 million with IFC, by end of this quarter. 

PFS, an Infrastructure Finance Company, can borrow up to 50% of its Owned Funds from External Commercial Borrowings under automatic route.

PFS is an Indian non-banking finance institution promoted by PTC to make principal investments in, and provide debt and other financing solutions, for companies with projects across the energy supply chain.

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