PFC Disburses Rs 11K Crore, Claims to be Unaffected by Lockdown

PFC has disbursed Rs 11,000 crore to finance power sector projects during the first week of lockdown till March 31 and has claimed to be unaffected by it.

State-owned Power Finance Corporation (PFC) has disbursed Rs 11,000 crore to finance power sector projects during the first week of lockdown till March 31. The company claimed that the lockdown to fight COVID-19 has not affected its work as it disbursed Rs 5,300 crore on March 31, itself.

“During the lockdown period of one week, we disbursed more than Rs 11,000 crore and on the last day, we disbursed Rs 5,300 crore, which is a remarkable achievement.

“I am extremely happy to share that work of PFC did not suffer any pullbacks due to the lockdown and everyone contributed by working from home using the IT systems. This would not have been possible without the team-spirit displayed by PFCians,” PFC Chairman and Managing Director Rajeev Sharma said in an internal letter to company employees.

This would not have been possible without the contribution of each PFCian, who worked untiringly through weekends as well as late nights, he added. “I am extremely proud to be a part of this family, who has come out on top of adversities and challenges time and again. I am confident that PFCians would continue to display this unfettered and strong dedication going forward as well,” Sharma said in the letter.

PFC is under the administrative control of the Ministry of Power and finances power sector projects.

In December 2019, PFC Consulting, a subsidiary of Power Finance Corporation, has issued a tender for shortlisting transmission service providers to develop transmission systems for the evacuation of 2500 MW of wind power from the Karur/ Tiruppur wind energy zones (WEZ) of Tamil Nadu. The projects are to be developed on a build, own, and operate (BOO) basis.

The scope of work for the selected bidders includes the establishment, operation, and maintenance of the project. The transmission service provider (TSP) will also be responsible for the completion of activities, including the survey, detailed project report formulation, financing, project management, acquiring necessary permits, land compensation, design, engineering, procurement, construction, erection, testing, and commissioning of the projects.