Even after the much hyped tax-free bonds of IIFCL, REC, Power Finance Corporation, National Housing Board, IRFC, Hudco, JNPT, Ennore Port and Dredging Corporation of India, together, have managed to garner only Rs 1,500 crore against the targeted Rs 26,287 crore with the majority of the issues remaining enormously under-subscribed. Read more...

Indian government-owned Power Finance Corporation posted a net profit of Rs 1,117 crore for the third quarter of this fiscal, against Rs 1,108 crore in the same period of previous fiscal. Total income from operations rose to Rs 4,465.37 crore from Rs 3,282.35 crore in the same period last fiscal, PFC said in a filing to the BSE. Read more...

The Odisha Power Generation Corporation (OPGC) has signed an agreement with the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to secure assistance of Rs 8,660 crore to fund the expansion of its 2x660 MW thermal power plant (units 3&4) project. The agreement has been signed by OPGC Managing Director, Venkatachalam Kuppusami and the representatives of PFC and REC. The debt component of Rs 8,660 crore has been agreed upon to be financed in the ratio of 50:50 by the PFC Read more...

State run, Bharat Heavy Electricals (BHEL) has invited bids for Rs 3104.16 crore Rayalaseema Thermal Power Project, Stage IV, 1x600 MW, Unit 6, said G Prabhakar, Divisional Engineer & ProjectCoordinator. Read more...

Power projects of Uttarakhand would increase their capacity to 250 million units from the current 20.290 mn units of power under the RMU programme. Read more...

The Union government reviewed the progress of over 100 coal and lignite blocks allocated to companies, including Hindalco, Essar Power, Jaiprakash Associates, Adani and Power Finance Corporation for captive use. Read more...

Edelweiss Financial Services has expressed interest to join hands with Power Finance Corporation (PFC) to set up a $1 billion private equity (PE) fund. PFC invited bids from fund managers for partnering with it in the management of the fund. Read more...

Power Finance Corporation (PFC) may not be able to stick to its fund-raising plan for this financial year. The government-controlled power sector lender has deferred its $1-billion overseas fund-raising plan indefinitely. Read more...

The finance ministry has given an in-principle approval to a new mechanism in which all regulatory clearances are to be obtained by the government before coal blocks are auctioned to state-run or private companies Read more...

Initials bids for the Rs 20,000 crore ultra-mega power project in Orissa will be invited as per schedule, as the power ministry has made it clear that it will not be bound by the conditional clearance granted to the project by the ministry of environment and forests. Read more...