PTC India sanctions Rs 721 crore to power sector during 2008-09

NEW DELHI: PTC India Financial Services Limited (PFSL) set up by PTC India Limited, a major player in power trading, as its strategic investment arm has sanctioned financial assistant of Rs 721 crore to power sector projects during 2008-09. This assistance has been in the form of equity and/or debt to 15 projects both in renewable and non-renewable areas.

Starting its functioning in middle of 2007-08, PFSL has so far sanctioned financial assistance of Rs. 876 crore to 20 projects till 31st March, 2009.

Significantly, PFSL has also been promoter of first ever Power Exchange, namely, Indian Energy Exchange (IEX) and has also set up joint ventures for promoting power projects based on biomass, wind and solar. The assistance from PFSL made so far would help supporting capacity creation of 4684 MW.