PFC signs MoU with Ministry of Power for FY 2023-24 and FY 2024-25

New Delhi: Power Finance Corporation Limited (PFC) signed a Memorandum of Understanding (MoU) with the Ministry of Power (MoP) for FY 2023-24 and FY 2024-25 on October 23 as per the DPE’s performance evaluation system.

The MoU has been signed by Ministry of Power's Secretary Pankaj Agarwal and PFC's Chairperson and Managing Director (CMD) Parminder Chopra in the presence of senior officials of the Ministry of Power and PFC.

DPE’s MoU performance evaluation system is used for setting annual targets for the CPSEs on various financial and operational parameters, and the CPSE’s overall performance is rated against such MoU targets. PFC has been awarded the highest rating of “Excellent” during the last two years (i.e. FY 2020-21 & FY 2021-22), and rating for FY 2022-23 is expected to be released soon. 

PFC is a Maharatna PSU and largest NBFC in India on a consolidated basis. PFC also leads India’s energy transition, having the largest renewable loan portfolio. Additionally, PFC has also started funding projects in infrastructure and logistics space.

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