PTC India Financial Services plans to finance green projects using the Rs 1.35 billion tax refund that it expects to receive from the Income Tax department. The Income Tax department has processed its return of income for the financial year 2018-19, which translates to a refund of Rs 1,349.1 million, which includes an interest of Rs 58.1 million. According to a statement by PTC India, the refund will be utilised in financing sustainable and environmental-friendly infrastructure projects related to green energy, water sewage treatment plants, and electric vehicle charging stations.
PTC India Financial Services is a non-banking finance company promoted by PTC India Ltd. The company offers various financial products to infrastructure companies in the entire energy value chain and other infrastructure industries. It also provides fee-based services like loan syndication and underwriting.