PTC India Financial Services approves loans of over Rs. 1,000 crore to power projects.

PTC India Financial Services (PFS) has approved loans of over Rs. 1,000 crore to power projects, bulk of them in renewable energy space. At its board meeting, PFS approved project lending of a little over Rs. 1,000 crore to established players with proven track record, official sources said.

Refusing to divulge individual company details, sources said bulk of the projects are in renewable energy space. Loan of Rs. 540 crore has been sanctioned for solar projects and Rs. 265 crore for wind projects.

Hydroelectric projects have got Rs. 140 crore from PFS and capital thermal power plants another Rs. 150 crore.

In one of the projects in the solar space, PFS is the sole lender and is lending Rs 300 crore. The 50 MW project in Madhya Pradesh is a joint venture between a leading Public sector company, NEEPCO and a private player chosen after bidding. The project is likely to come up by January 2015.

ET