A wholly owned subsidiary of Power Finance Corporation Ltd

 

Chairman’s Desk

Relevant portion of Chairman's speech delivered at 26th Annual General Meeting of PFC held on 21st September, 2012 at New Delhi.

 

While the development of the country depends heavily on a resurgent Power Sector, Your Company is aware of the environmental impact of the power projects it finances. Given the global movement to reduce greenhouse gas emissions, and an increasing dependence on renewable sources of energy, Green Energy has been given a central place in the Government of India's National Action Plan on Climate Change. To give a further fillip to financing of projects that utilize these sources of energy, PFC Green Energy Limited was incorporated on 30th March, 2011, as a wholly owned subsidiary of the Company to extend finance and financial services to promote green (renewable and non-conventional) sources of energy with authorised capital of Rs. 1,200 Crore.
 

The Company will commence its business operations after its registration as a Non Banking Financial Company (NBFC) with RBI. The application for grant of Certificate of Registration from RBI has been filed and the same is under process. It took yet another step towards forging its own destiny with the release of its own Corporate Logo in a special ceremony held on 25th July, 2012.