PFC CMD conferred with Skoch Economics Award for power sector reforms

New Delhi: Power Finance Corporation Limited’s (PFC) Chairman & Managing Director (CMD) Ravinder Singh Dhillon has been conferred with the prestigious “Skoch India Economic Forum Award” in recognition of his stellar leadership, path-breaking energy transition initiatives, remarkable achievements and contribution to the accelerated development of the power sector.

Dhillon received this award from Chairman of the Economic Advisory Council to the Prime Minister of India Bibek Debroy and SKOCH Group’s Sameer Kochhar at a glittering ceremony held at Dr Ambedkar International Centre, New Delhi.

The award ceremony was marked by the presence of dignitaries and key officials from State & Central PSUs, key personnel from the government, senior bureaucrats and policymakers.

Leading from the front with 3-pronged strategy, involving assessment growth through diversification, reduction in borrowing cost and strengthening of internal systems to improve asset quality, Ravinder Singh Dhillon has steered the PFC to attain the status of Maharatna from Navratna earlier and also piloted PFC’s business diversification efforts, both by cross-border funding and expanding the business into new market segments in infrastructure & logistics space like funding of e-Mobility, Metro Projects, Nuclear Energy, Bio-ethanol, Oil Refineries, Lift Irrigation Projects, etc.

It was due to his efforts leading to liquidity infusion to Discoms during COVID-19 that maintained the power sector value chain, averting the crisis. He played a pivotal role in growing PFCs RE loan book, registering a 5-year CAGR of 46 percent. Sanctioning financial assistance to India’s first RE integrated pumped storage project was spearheaded by him that saw PFC’s RE portfolio crossing 15,000 MW milestone. PFC also raised EUR 300 million in Green Bonds and mobilised Rs 4,429 crore through domestic retail bonds, under his leadership. During last 6 years, PFC has reported lowest ever net NPA of 1.31 percent, down from 7.39 percent in 2019.

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