Power Finance Corporation is an Infrastructure Finance Company, which is under the control of India’s Ministry of Power. Its function is to finance energy developments and infrastructure in India.
Power Finance Corporation (PFC) is commited to promoting renewable energy projects in view of their critical importance for the development of the economy of India. Also, because of broader environmental considerations and of the country's energy security policy, the Government of India has decided to meet future power requirements mainly from renewable energy.
In this context, PFC issued an initial bond of the value of USD 400 million to finance renewable energy (solar and wind) projects exclusively. More specifically, the proceeds will be allocated to the re-fianancing of exisitng projects as we ll as the financing new eligible green projects. The proceeds from this bond would refinance lending that helped to develop over 2GW of solar and 1.4GW of wind energy projects.
Indian Railway Finance
Corporation Ltd. (IRFC) is the dedicated financing arm of the Indian Railway under
the Ministry of Railways (MoR), Government of India and mobilizes funds on behalf on Indian Railways
from domestic as well as overseas capital markets. The funds are utilize
d to support the procurement of
new rolling stock assets, which are locomotives, passenger coaches and wagons and also building up
infrastructure, constituting a significant part of Indian Railways annual capital expenditure
The Company has been able to
diversify its borrowing portfolio each year through the issue of both taxable
free bonds, term loan from banks / financial institutions besides off shore borrowings, at competitive
The Indian Railways have a huge role to play in comb
ating climate change wherein it aims to enhance the
share of the railways in the overall land based freight transport from the present 36% in the FY 2016
45% by the year 2030.
|DATE OF ISSUE||TENOR||ANNUAL REPORT||FURTHER INFORMATION|
|December 2017||Use of proceeds bond||USD 400m||10 years||India||Solar and Wind|