PTC earmarks Rs 100 cr for energy efficiency projects
State-run Power Trading Corp on Wednesday said it will invest Rs 100 crore along with the Bureau Energy Efficiency on financing energy efficiency projects
By PTI |
NEW DELHI: State-run Power Trading Corp on Wednesday said it will invest Rs 100 crore along with the Bureau Energy Efficiency on financing energy efficiency projects .
"We will invest Rs 100 crore in the energy efficiency projects with the BEE to finance energy efficiency projects," T N Thakur Chairman and Managing Director PTC told reporters here.
PTC Financial Services, an arm of PTC has been formed which would work with BEE in these projects. It holds 60 per cent stake in the subsidiary and 20 per cent stake is held by Goldman Sachs and Macquarie each.
BEE has selected 160 projects in Gujarat for which PTC would do the necessary funding, "We are expecting project based financing from PTC in the projects in Gujarat", Ajay Mathur Director General BEE today said.
Bureau of Energy Efficiency today also signed a Memorandum of Understanding with Power Trading Corporation to leverage the financial and technical strength of PTC.
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The MoU would also establish the Energy Efficiency Financing Platform (EEFP) that seeks to overcome barriers of financing by sharing of risks, capacity upgrading of financial institutions. The MoU was signed by Ajay Mathur, BEE and T N Thakur, CMD, PTC in the presence of Power Secretary, Anil Razdan here today.
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