PTC India Financial Services Ltd (PFS) on Thursday said that it has sanctioned loans of about Rs 1,000 crore (Rs 10 billion) for clean energy projects in the country.
“PTC India Financial Services Ltd… sanctioned loans aggregating to about Rs 10 billion for providing financial assistance to renewable energy projects and energy efficiency projects in India,” the company said in a release on BSE.
PFS is a leading infrastructure finance company promoted by PTC India Ltd.
It said with the focus to increase loan portfolio for clean energy projects in the country, its board sanctioned loans totalling to about Rs 10 billion to 9 projects in its meeting held on September 16.
The fresh round of loan approvals will help the company further expand into renewable energy projects, the release added.
“...the company has forayed into financing of energy efficiency projects. This should further help consolidate PFS’ position as a leading institution financing renewable energy projects in India,” PFS CEO and Managing Director Ashok Haldia said.
The company offers an array of financial products to infrastructure companies in the entire energy value chain. It also provides fee based services such as loan syndication and underwriting.