PTC India Financial approves Rs 500 crore debt to 3 power companies

PTC India Financial Services (PFS) has sanctioned debt aggregating Rs 500 crore to 3 power companies for various projects. The projects includes one hydro project promoted by an Indian company in Nepal, one thermal project with captive coal mines, and another company engaged in executing the EPC contracts for power transmission lines.

The loan sanctioned to the above mentioned generation projects will help additional capacity generation of 720 MW. With this, the effective debt sanction of PFS as on May 31, 2011 aggregates more than Rs 3500 crore.

PFS, promoted by PTC India (PTC), as a special purpose investment vehicle to provide total financial services to the entities in energy value chain, which inter-alia includes investing in equity and/or extending debt to power projects in generation, transmission, distribution; fuel sources, fuel related infrastructure like gas pipelines, LNG terminals, ports, equipment manufacturers and EPC contractors etc. It also provides non-fund based financial services adding value to green field and brown field projects at various stages of growth and development.