PTC India to raise $40 million from IFC (BS)

PTC India Financial Services Limited (PFS) will raise around $40 million fromInternational Finance Corporation (IFC) to fund various wind power projects, which can generate around 75-125 MW of power in the southern states and Maharashtra. PFS has been categorized as an Infrastructure Finance Company, and is focused on funding projects across the energy value chain in India. IFC's loan, being long term, will help PFS provide funding for long gestation RE projects. The proposed project would also help increase
availability of funding to smaller private sector players. PFS is a developing financial intermediary and its expansion in this space is likely to help attract other financial institutions to increase their risk appetite and invest more in these sectors.