Power Finance Corporation Ltd, a state-owned non-banking finance company, has secured JPY 30 billion of loan from Japan Bank for International Cooperation (JBIC) to finance its renewable energy portfolio. It signed the agreement with JBIC for this long-term facility.
JBIC is providing the facility under its initiative titled ‘Global action for Reconciling Economic growth and Environmental preservation’ (“GREEN”), wherein JBIC provides financing for projects which ensure the effective reduction of greenhouse gas emissions and conservation of the global environment.
This facility would also help PFC in providing competitive rates for renewable power projects.
