PFC bags 1.85 billion Japanese yen loan for waste-to-energy project

Power Finance Corporation Limited (PFC Limited) has secured a loan worth 1.85 billion Japanese yen from the Japan Bank for International Cooperation (JBIC). The loan has been taken by the company to fund KPC Gas Power Corporation’s 11.5 MW waste-to-energy project. The project is being set up at Bidadi, Ramanagara District, Karnataka.

This loan agreement was inked on August 17, 2023, as part of the 30 billion Japanese yen long-term facility that JBIC granted to PFC. The project will generate energy by utilising 600 tonnes per day of segregated municipal solid waste. The project is based on incineration using Hitachi Zosen India’s moving grate technology.

Recently, in August 2023, the Apraava Energy signed a MoU with REC Limited and PFC Limited to raise Rs 91.2 billion for its transmission, wind and advanced metering infrastructure projects in India.

In July 2023, Hero Future Energies announced signing a MoU with REC Limited and PFC Limited to develop green energy projects. HFE will receive Rs 31 billion from PFC Limited and REC Limited each for the purpose of funding and developing renewable projects across the country.