PTC India Financial services (PFS), an infrastructure NBFC, has partnered with the US-India Clean Energy Finance (USICEF) initiative.
Pawan Singh, Managing Director and CEO, PFS, said the initiative is an innovative facility which offers PFS an opportunity to finance and deploy high-impact development projects which can contribute in achieving India’s distributed energy target of 40 GW by 2022.
The USICEF is managed by Climate Policy Initiative (CPI) and was founded in 2017 in partnership with the Indian Ministry of New and Renewable Energy, OPIC, IREDA, among others. It works with early-stage projects to scale up and become investment-ready.
PFS has processed and sanctioned three distributed solar power projects with an aggregate debt amount of ₹242 crore, a statement said.
“Distributed solar energy is critical for India’s clean energy transition,” said Dhruba Purkayastha, USICEF Director, Climate Policy Initiative.