Power Finance Corporation (PFC), a Schedule-A Maharatna CPSE under the Ministry of Power, is India’s largest government-owned NBFC. Since its inception in 1986, the company has been a key enabler of the country’s power sector growth, offering a range of financing solutions tailored to generation, transmission, and distribution needs. The company serve as the nodal agency for key government programmes such as the Revamped Distribution Sector Scheme (RDSS), Ultra Mega Power Projects (UMPPs), and the Integrated Power Development Scheme (IPDS). It also acts as the Bid Process Coordinator for Independent Transmission Project.
With many years of experience in power sector financing, the company provides a comprehensive suite of financial solutions tailored to the evolving needs of its clients and aligned with national priorities. As a leading NBFC and a trusted partner to the Government of India, the company offers end-to-end financing support across the entire power value chain-generation, transmission, and distribution. PFC plays a crucial role in the rise of India as a global player. Increasingly, a country's development is gauged by measuring its energy usage. With a large fraction of its nation still, unfortunately, without any access to electricity, PFC will become an increasingly important factor in the years to come.
Business area of the company
The Company is a Government Company engaged in extending financial assistance to power, logistics and infrastructure sector and is registered with Reserve Bank of India (RBI) as an Infrastructure Finance Company (IFC). Its product portfolio includes rupee term loans, short-term funding, lease financing, and transitional support. Expanding beyond power, the company now finance projects in e-mobility, charging infrastructure, roads, ports, metro rail, and smart cities. The company’s clients include central and state utilities, power equipment manufacturers, government departments, and large infrastructure developers.
Products
Services
Subsidiaries of the company
- REC Limited
- REC Power Development & Consultancy Limited
- iChandil Transmission Limited
- Dumka Transmission Limited
- Mandar Transmission Limited
- Koderma Transmission Limited
- Luhri Power Transmission Limited
- Shongtong Power Transmission Limited
- Kankani Power Transmission Limited
- Tuticorin Power Transmission Limited
- WRNES Talegaon Power Transmission Limited
- Rajgarh III Power Transmission Limited
- Jejuri Hinjewadi Power Transmission Limited
- Velgaon Power Transmission Limited
- PFC Consulting
- Chhatarpur Transmission Limited
- Siot Transmission Limited
- Joda Barbil Transmission Limited
- Ramakanali B -Panagarh Transmission Limited
- Gola B -Ramgarh B Transmission Limited
- KPS III HVDC Transmission Limited
- Bhuj II Transmission Limited
- Angul Sundargarh Transmission Limited
- Bhadla and Bikaner Complex Transmission Limited
- Bhuj ICT Transmission Limited
- Kakinada I Transmission Limited
- Kandla GHA Transmission Limited
- MEL Power Transmission Limited
- NER Expansion Transmission Limited
- NES Dharashiv Transmission Limited
- NES Navi Mumbai Transmission Limited
- NES Pune East New Transmission Limited
- Raghanesda RE Transmission Limited
- Wahipora and Sallar Transmission Limited
- PFC Infra Finance IFSC Limited (PIFIL)
- PFC Projects Limited (PPL)
Other subsidiaries established for development of Ultra Mega Power Projects (UMPPs)
- Orissa Integrated Power Limited
- Coastal Tamil Nadu Power Limited
- Sakhigopal Integrated Power Company Limited
- Ghogarpalli Integrated Power Company Limited
- Deoghar Mega Power Limited
- Cheyyur Infra Limited
- Odisha Infrapower Limited
- Deoghar Infra Limited
- Bihar Infrapower Limited
- Bihar Mega Power Limited
- Jharkhand Infrapower Limited
Awards
2014-15
SCOPE Meritorious Award Gold Trophy for Good Corporate Governance for the year 2014-15
PFC received SCOPE Meritorius Award Gold Trophy for Good Corporate Gpvernance for the year 2014-15 from President of India.
PFC received 'Dalal Street Investment Journal PSU Award 2015.
2015-16
PFC received the prestigious ‘Rajbhasha Kirti Pratham Puruskar’ (in the category of region ‘A’) for the year 2015-16.
Power Finance Corporation Ltd. has been conferred with Governance Now PSU Award 2016 in the categories of (i) Overall Best Financial Performance (ii) Strategic Performance and (iii) Employee Productivity.
CMD PFC awarded Meritorious Energy Service Award by IEF.
2016-17
SCOPE Corporate Communication Excellence Awards 2017.
PFC received the ‘One Globe Award for Excellence in Enabling a Mobile Economy’ for the URJA App at the 6th Annual One Globe Forum held on February 10, 2017.
Power Finance Corporation has been conferred with CBIP Award 2017 in the category of Best Power Financing Company.
2019-20
2021-22
- PFC bagged Dun & Bradstreet’s India’s Best PSU Award in the category of “Best Navratna” in a virtual format.
- PFC received Dalal Street Investment Journal PSU AWARD OF THE YEAR 2020 in the Category - Navratna of the Year and the Most Efficient and Profitable Navratna of the Year - Non-Manufacturing.
2022-23
- PFC was ranked at ‘34’ out of ‘Top 500’ Indian Companies by the Fortune Magazine.
- PFC bagged four awards at the 16th Annual Global Communications Conclave organized by the Public Relations Council of India in the categories of Best Corporate Film (Gold), Best Annual Report (Silver), Best House Journal Print (Regional) and Best Use of social media.
- PFC bagged Dun & Bradstreet’s India’s Best PSU Award in the category of “Best Navratna” in a virtual format.
2023-24
- PFC was ranked 2nd among Central Public Sector Enterprises for procuring goods and services from MSME Businesses in the I10 crore to I100 crore range in the FY2022-23. This achievement highlights PFC’s commitment to diversity and empowerment in procurement practices.
- PFC secured SCOPE’s Meritorious Award for “Best Managed Financial Institution” in the Institutional Category-I (Maharatna/Navratna PSEs). The award was presented by Shri Jagdeep Dhankar, Hon’ble Vice President of India.
- PFC was conferred with the prestigious Indian Chamber of Commerce Award in the category of “Operational Excellence” at the 12th PSE excellence Awards.
- PFC was selected as India’s “Leading Infrastructure Finance Company” at the BFSI & FinTech Summit 2024 by Dun & Bradstreet.
2024-25
- Conferred for excellence in Financial Performance and Learning & Development, showcasing robust institutional governance.
- Prestigious recognition of PFC’s leadership as a high-performing financial institution in the infrastructure sector.
- Recognizes PFC’s leadership in deepening India’s corporate bond market and expanding capital availability for long-term infrastructure projects.
Milestones
1988: Commenced lending activity
1998: Registered as an NBFC with RBI
2007: IPO of equity shares
2010: Registered with RBI as an IFC & FPO of equity shares
2014: Crossed Rs 2 trillion loan assets
2019: PFC transfers its SPV -- Lakadia -Vadodara Transmission Projects -- to Sterlite Grid 18
2019: Acquires REC limited.
2020: PFC sanctions loans of over Rs 1 lakh crore in FY20.
- 2021: Power Finance Corporation gets certificate of appreciation from Haryana government
- 2021: PFC, REC sign pact with KHEL to finance hydropower project in Bhutan
- 2021: PFC issues India’s first-ever Euro Green Bond
- 2021: Govt accords 'Maharatna' status to Power Finance Corporation
- 2022: PFC lists 300 million euro green bonds on Luxembourg Stock Exchange
- 2022: PFC inks loan pact for JPY 30 billion with Japan Bank for International Cooperation
- 2022: PFC’s arm invites bids for supply of 4,500 MW power to different utilities in states
- 2023: PFC inks pact with JBIC for project loan of Rs 165 crore
- 2023: PFC sanctions loan of Rs 633 crore to Gensol Engineering
- 2024: PFC signs MoU with Govt of Gujarat for power projects worth Rs 25,000 crore
- 2024: PFC partners with NEDO
- 2024: PFC inks MoU with Government of Goa
- 2024: PFC’s arm incorporates wholly owned subsidiary
- 2025: Power Finance Corporation’s arm incorporates SPVs
- 2025: Power Finance Corporation inks loan agreement worth Euro 150 million
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