USICEF To Get Finance For Solar Projects From PFS

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The company is actively looking at new distributed solar power proposals being implemented by reputed developers under various schemes.

Infrastructure finance company PTC India Financial Services (PFS) has joined hands with the US-India Clean Energy Finance (USICEF) to leverage funds for solar projects in India.

Image for representational purpose only

PFS Managing Director and CEO Pawan Singh said to PTI that it is an innovative facility which presents PFS with an opportunity to finance and deploy high-impact development projects which can contribute in achieving India’s distributed energy target of 40 GW by 2022.

Leveraging fund in the most promising manner
“As part of it, we have partnered with 
USICEF to leverage these funds for the most promising, investment-ready distributed solar projects in India,” PFS said in a release.

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PFS has processed and sanctioned 3 distributed solar power projects with an aggregate debt amount of Rs 242 crore, of which approximately Rs 39 crore is outstanding in the books.

The company is actively looking at new distributed solar power proposals being implemented by reputed developers under various schemes.

USICEF is managed by Climate Policy Initiative (CPI) and was founded in 2017 in partnership with the Indian Ministry of New and Renewable Energy, OPIC, IREDA, and leading U.S. Foundations.

Dhruba Purkayastha, USICEF Director at Climate Policy Initiative opined that distributed solar energy is critical for India’s clean energy transition.

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