PFC Secures JPY 25.5 Billion Loan from JBIC for financing Wind Energy Project

PFC, A Maharatna Company and leading NBFC in Indian power sector, has secured a long-term loan of JPY 25.5 billion from the Japan Bank for International Cooperation (JBIC). This loan is part of JBIC’s ‘Global Action for Reconciling Economic Growth and Environmental Preservation’ (“GREEN”) initiative.

In addition to JBIC’s contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese Banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions.

The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Limited (OKPPL) in Karnataka, India.