Power Finance Corporation Ltd.

State-run power financiers Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will slash rates to single digits when lending to renewable energy projects following the government’s order setting tough targets for the two companies to double their exposure in the next three years. In order to achieve the targets, PFC will have to sanction Rs 1.5 lakh crore loans and REC Rs 1 lakh crore by 2019.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.