State-run Power Finance Corporation Limited (PFCL) is looking at a possible reduction in its interest rate by 25 basis points in view of the market conditions. The average lending rate of PFC is at present 11.75 per cent. PFC one of the largest specialised financier of power sector projects in the country expects 15-20 per cent growth in disbursal this financial year. The company basically provides funds based services like term loans, equipment leasing, bill discounting, buyer's line of credit. It also provides non-funds based services like guarantee services, consultancy services, to the power sector. Last financial year the total disbursement was to the tune of Rs 21,000 crore. This financial year the total disbursement is pegged at Rs 22-24,000 crore. The company plans to raise some ratio of this from the market, mainly through bonds, informed Goel. PFC also the nodal implementing agency for the three ultra mega power projects coming up in the states of Orissa, Tamil Nadu and Chattisgarh is also following up the routine processes with the respective state governments, after which Request For Qualification or RFQs will be issued, if all pre conditions are met.
Source: Business Standard (3rd July, 2009)
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