PTC India Financial joins Indo-US initiative to mobilize debt financing, for solar projects

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – PFS joins the US-India Clean Energy Finance initiative to mobilize debt financing for distributed solar energy in India.

PTC India Financial services (PFS), India’s leading infrastructure finance company, joined hands with the US-India Clean Energy Finance (USICEF) initiative on Thursday, April 4, 2019.

USICEF is managed by Climate Policy Initiative (CPI) and was founded in 2017 in partnership with the Indian Ministry of New and Renewable Energy, OPIC, IREDA, and leading U.S. Foundations.

USICEF supports early-stage projects to scale up, de-risk and become investment—ready.

It leverages public and philanthropic funds to catalyze private investment into distributed clean energy in India.

PFS processed and sanctioned 3 distributed solar power projects with an aggregate debt amount of 242 crores (~2.42 billion), of which approximately 39 crores (~390 million) is outstanding on the books.

Further, PFS is actively looking at new distributed solar power proposals being implemented by reputed developers under various schemes.

As part of it, we have partnered/engaged with USICEF to leverage these funds for the most promising, investment-ready distributed solar projects in India.

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