PFC secures JBIC Financing for another Waste-to-energy Project in India’s renewable energy push
New Delhi, 21st August 2023: Continuing its thrust to augment resources for the energy transition in India, the State-owned PFC on 17th Aug has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 Bn. This loan agreement was signed under the long-term facility of JPY 30 Billion provided by JBIC to PFC.
The loan proceeds would be used to finance the 11.5 MW Waste to Energy Project of KPC Gas Power Corporation Ltd (a wholly owned subsidiary of KPCL) at Bidadi, Ramanagara District, Karnataka. This Project will result in the effective utilisation of 600 TPD of segregated municipal solid waste for energy generation. The Project is based on incineration using moving grate technology from Hitachi Zosen India Pvt. Ltd.
The loan was signed at JBIC New Delhi Office by Mrs Parminder Chopra, CMD, PFC and Mr Nobumitsu Hayashi, Governor, JBIC, in the presence of Mr Rajiv RanjanJha, Director(Projects), PFC; Mr Sandeep Kumar, Executive Director (Finance), PFC; Mr Rajesh Kumar Shahi, Executive Director (Projects), PFC; Mr Satoru Yoneyama, Director, Social Infrastructure Finance Department, JBIC and
other Senior Officials of PFC & JBIC.
During the ceremony, Mrs Parminder Chopra, CMD, PFC, said this is a remarkable milestone in our partnership with JBIC and reflects the deep-rooted cooperation between India and Japan. PFC remains committed to advancing the cause of energy transition and looks forward to JBIC’s collaboration in supporting India in achieving its ambitious green energy goals.
