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R.S. Dhillon, CMD, PFC honored with prestigious Skoch Economics Award

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R.S. Dhillon, CMD, PFC honored with prestigious Skoch Economics Award for Power Sector Reforms at 92nd Scotch Summit

Shri Ravinder Singh Dhillon, Chairman & Managing Director of Power Finance Corporation Ltd (PFC), a Maharatna Company and India’s leading NBFC in the power sector, was conferred with the prestigious “SKOCH INDIA ECONOMIC FORUM AWARD”in recognition of his stellar leadership, path-breaking energy transition initiatives, remarkable achievements and contribution to the accelerated development of the Power Sector. Shri Dhillon received this award from Shri BibekDebroy, Chairman of the Economic Advisory Council to the Prime Minister of Indiaand Shri Sameer Kochhar, CEO, SKOCH group at a glittering ceremony held at DrAmbedkar International Centre, NewDelhi.

The award ceremony was marked by the presence of dignitaries and key officials from State & Central PSUs, key personnel from the government, senior Bureaucrats and policymakers.

Leading from the front with 3-pronged strategy, involving assessment growth through diversification, reduction in borrowing cost and strengthening of internal systems to improve asset quality, Ravinder Singh Dhillon has steered the Power Finance Corporation to attain the status of Maharatna from Navratna earlier and also piloted PFC’s business diversification efforts, both by cross-border funding and expanding the business into new market segments in infrastructure & logistics space like funding of e-Mobility, Metro Projects, Nuclear Energy, Bio-ethanol, Oil Refineries, Lift Irrigation Projects, etc.

It was due to his efforts leading to liquidity infusion to Discoms during Covid that maintained the power sector value chain, averting the crisis. He played a pivotal role in growing PFCs RE loan book, registering a 5-year CAGR of 46%. Sanctioning financial assistance to India’s first RE integrated pumped storage, the project was spearheaded by him that saw PFC’s RE portfolio crossing 15,000 MW milestone. PFC also raised EUR 300 million in Green Bonds and mobilised Rs 4,429 cr through domestic retail bonds, under his leadership. During last 6 years, PFC has reported lowest ever net NPA of 1.31%, down from 7.39% in 2019.

Shri R.S Dhillon holds a B.E. (Electrical) degree from Thapar Institute of Engineering & Technology and an M. Tech. in Power Systems from the prestigious IIT Delhi. Shri Dhillon has over 38 years of varied experience spread across the entire value chain of the power sector. His diverse work experience covers 3 years in Designing Power Generating Equipment at Bharat Heavy Electricals Ltd., 6 years in Central Electricity Authority with macro-level planning of Power Systems and 29 years in PFC, playing a key role in Project Appraisal, Financial Modeling, Project Monitoring & Stressed Asset Resolution.

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