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Power Finance Corporation issues India’s first-ever Euro Green Bond

Power Finance Corporation issues India's first-ever Euro Green Bond_50.1

The leading power sector NBFC, Power Finance Corporation Ltd (PFC), successfully issued its maiden Euro Green Bond. The 7-year Euro 300 million Bond has been priced at 1.841 per cent. This Euro Green Bond is the first-ever Euro denominated Green bond issuance from India. It is also the first-ever Euro issuance by an Indian NBFC. With the issuance, PFC has also forayed into the European market for its international fundraising.

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PFC is witnessing a marked shift in its lending portfolio owing to stress in thermal power generation, with no new private investment in the sector. It is expected that renewable energy and transmission & distribution (T&D) would attract the bulk of the lending by PFC going forward, along with newer sectors such as lift irrigation, electric mobility and energy efficiency.

Important takeaways for all competitive exams:

  • Power Finance Corporation Ltd Headquarters: New Delhi;
  • Power Finance Corporation Ltd Founded: 16 July 1986;
  • Power Finance Corporation Ltd chairman and managing director: R S Dhillon.

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