PFC gets Rs 105 Crore from JBIC financing

Under the extended JPY 30 billion long-term arrangement offered by JBIC to Power Finance Corporation (PFC), the state-owned corporation has secured a funding agreement for 1.85 billion Japanese yen (approximately Rs 105 crore) through JBIC financing. The allocated funds are designated for the support of a waste-to-energy initiative, encompassing an 11.5 MW project undertaken by KPC Gas Power Corporation in Karnataka.

On August 17th, PFC formalized a loan agreement with the Japan Bank for International Cooperation (JBIC) amounting to JPY 1.85 billion. This arrangement falls within the broader context of JBIC's JPY 30 billion long-term funding facility extended to PFC. The waste-to-energy venture aims to harness the potential of 600 tonnes per day of separated municipal solid waste for energy production, leveraging incineration technology incorporating moving grate technology supplied by Hitachi Zosen India Pvt Ltd.

The signing ceremony for the loan took place at JBIC's New Delhi office and was attended by Parminder Chopra, CMD of PFC, and Nobumitsu Hayashi, Governor of JBIC.

Source: Media Reports