PFC to lend Rs 50,000 cr to power projects

Gangtok: State-owned Power Finance Corporation Ltd (PFC) has decided to lend Rs 50,000 crore, over two-third of its total asset base, to fund various proposed power projects in the country.

There is a huge capacity addition taking place in the country to increase power generation by 78,000 MW under the 11th Five Year Plan (2007-2012), and it will require investment by various financial institutions, said PFC Chief Managing Director (CMD) Satnam Singh.

To meet this end, he said, the company has decided to lend as much as Rs 50,000 crore out of its total asset base of Rs 70,000 crore to the proposed power projects in the country.

A large of chunk of PFC's lending has been earmarked for the ultra mega power projects even as it has provided loans to about 1,500 ongoing power projects, Singh said.