PANAJI
Power Finance Corporation (PFC) has completed 40 years as a key pillar in India’s power sector growth, Union Minister of State for Power and New & Renewable Energy Shripad Naik said on its Foundation Day in New Delhi.
“PFC’s journey is a testament to what focused vision, determined leadership and consistent execution can achieve,” Naik said. The event was attended by Power Ministry Secretary Pankaj Agrawal, PFC President and Managing Director Parminder Chopra and senior PFC officials.
Since its inception, PFC has grown into India’s largest government-owned non-banking financial company (NBFC), with a consolidated balance sheet of over Rs 11.70 lakh crore. It recorded a consolidated profit after tax of Rs 30,514 crore in FY25, the highest ever by any Indian NBFC, and a loan book exceeding Rs 11 lakh crore.
“PFC’s progress is a reflection of our national aspiration for a self-reliant, sustainable and inclusive energy ecosystem,” Shri Naik said, congratulating the PFC team for their contribution to India’s energy development.
The minister highlighted PFC’s support for India’s renewable energy goals, having financed over 62 GW of renewable energy capacity, which is nearly 28% of the country’s installed renewable energy capacity. Its renewable energy loan portfolio has grown 35% year-on-year, reaching Rs 81,031 crore, Shri Naik said, adding that this shows PFC’s commitment to climate responsibility and sustainable development.
Naik urged PFC to continue supporting emerging technologies such as green hydrogen, battery storage, digital grids and energy efficiency solutions to strengthen India’s energy security and global competitiveness.
