Bigul

PFC, REC gain up to 3% as UBS initiates 'buy' rating on high growth outlook

UBS believe REC and PFC's growth drivers and trajectory will be similar, with REC growing slightly ahead of PFC.
29-08-2024
Bigul

PFC secures 25.5 bn yen loan from JBIC to finance wind energy project

State-owned Power Finance Corporation (PFC) on Thursday said that it has secured a loan of 25.5 billion Japanese yen (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project. This loan is part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, a PFC statement said. According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC. In addition to JBIC's contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions. The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.
08-08-2024
Bigul

POWER FINANCE CORPORATION LTD. - 532810 - Reg. 34 (1) Annual Report.

Update on Annual Report for the Financial Year 2023-24. This is in continuation to our letter dated 30.08.2024 informing about the 38th Annual General Meeting (AGM) of Power Finance Corporation Limited to be held on Wednesday, August 21, 2024 at 11.00 A.M. through video conferencing/other audio-visual means comprising the Notice of 38th AGM & the Annual Report for the financial year 2023-24. It is further informed that the updated copy of Annual Report with no material change is enclosed herewith, containing an update of shareholding of REC Limited as 52.63% on page no five of Annual Report wherein there was a printing error earlier. This is submitted for your information and record.
07-08-2024
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