PTC India Financial Services (PFS)
PTC India Financial Services Limited (“PFS”) has been promoted by PTC India Ltd (PTC) as a company incorporated under the Companies Act 1956 and registered with RBI as a NBFC. It is a systemically important non-deposit taking NBFC classified as “Infrastructure Finance Company (IFC)” by RBI and is listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. PFS, being an IFC, is engaged in the business of making investments in, and providing financing solutions to companies with projects in the power sector and related areas across the entire energy value chain. The business model and commitment of PFS is to partner in infrastructure development and support the Power Sector by catering to the financial requirements of the sector, PFS also extends financing assistance to certain specified infrastructure projects other than power sector.
PFS strongly believes in partnering and forging strong relationship with credible stake holders to provide complete financial services for all links in the energy value chain.
PFS is structured as a ‘one-stop shop’ for financing of power projects over the project life cycle. The USP of PFS lies in its ability to undertake risk analysis of power projects and add value by mitigating those while structuring the financial product in an expeditious timeframe following a highly professional approach.
PFS majorly provides fund based / non-fund based financial assistance in the form of term debt or corporate debt instruments, taking into account the need of the promoter/borrowing company, condition of the financial markets, risks and rewards from the project and regulatory requirements. PFS provides debt financing on Non-Recourse or on Limited Recourse basis for following:-
- Expenditure on a Greenfield project
- Expenditure on capacity expansion/renovation of an existing asset
- Acquisition of an operating asset
- Takeover of an existing debt facility
- Securitization of future cash-flows of an operating asset
- Investment as structured debt in a subsidiary company for Capex addition
- Pooling of assets
PFS Vision & Mission
To be the most preferred financial partner in the entire energy value chain.
To partner and forge strong relationships with credible stakeholders to provide complete financial solutions' equity, debt and other financial services for all inks in the energy value chain and related infrastructure sectors
Type of Instruments
- Term Debt or Project Debt
- Corporate Debt
- Bridge Debt ( Where PFS has sanctioned term debt)
- Letter of Comfort (LoC) for opening up of LC or availing Buyer’s Credit (In line with RBI norms), where PFS has sanctioned Term Debt
- Credit Enhancement Scheme
- Standalone Letter of Comfort (LoC) for Bank Guarantee (BG) under Bidding (without any term debt sanction)
- Revolving Facility for financing cost of Plant & Machinery during developmental phase for renewable energy projects
In line with the vision to become the most preferred financial partner, PFS also provide following services complementing the financial assistance business:
- Lead FI
- Security Agent
- Facility Agent
- Underwrite debt
- Project Appraiser
- Advisory Services
Debt assistance can be considered for a project in the entire energy value chain and projects in specified infrastructure sector.
Eligible Projects in energy value chain: Projects in Power Generation, Transmission and Distribution, Lighting, Energy Meters, Switchgears, Switchboards, Transformers, Cables, Fuel Supply, Fuel transportation, Cogeneration plants in various manufacturing entities, Oil and Gas Sector comprising of Gas fields, Refining of Crude Oil, Gasification, Re-gasification, Liquefactions plant, Gas Pipelines, Development of Coal mine, Ports, Energy conservation and other sectors related to infrastructure within the entire energy value chain or any other project which may be approved by the Board of Directors.
Eligible projects in specified infrastructure sector: PFS may consider financing of Infrastructure projects other than eligible projects in the energy value chain in the following peripheral areas:-
- Ports – Green field & brownfield ports.
- Infra Logistics Services – Development of Container terminal, Road or Railway line connecting port & hinterland, Railway Sidings, Private Railway Fright Terminals (PFTs) etc.
- Other areas of infrastructure like city water distribution etc.
Board of Directors
- Shri. Deepak Amitabh, Chairman
- Dr. Pawan Singh, MD & CEO
- Shri Naveen Kumar Director
- Dr. Rajib K. Mishra, Nominee Director
- Mrs. Pravin Tripathi, Independent Director
- Shri Harbans Lal Bajaj, Independent Director
- Shri C . Gangopadhyay, Independent Director
- Mr. Harun R. Khan, Independent Director
PTC Energy Ltd, has been set up as a subsidiary of PTC India Ltd. with an objective to develop asset base taking in to its sphere the business of generation, supply, distribution, transmission and dealing in all forms of energy including import and export of coal, conversion of coal/ fuels in to electricity, fuel linkages and provide advisory services in energy sector and energy efficiency. The Company was incorporated on 1st August 2008 and commenced its business operations from FY 2009-10.
"To play a pivotal role in India's emerging energy sector through asset base business and act as fuel aggregator"
- To carry out asset based business in energy sector
- Creating a green future through renewable sources of energy
- Promote innovative technologies
- Energy Efficiency
- To support power projects through fuel intermediation
- To maximize shareholder's wealth
- Being a partner of choice
- Organisation before self
- Trust in each other
- Team work
- Striving for excellence
- Best Corporate Governance Practices
Board of Directors
- Mr. Deepak Amitabh, Chairman
- Mr. Ajit Kumar, Managing Director
- Mr. Dhirendra Swarup, Independent Director
- Mrs. Pravin Tripathi, Independent Director
- Mr. R.N. Nayak, Director
- Dr. Rajib K. Mishra, Director
Joint Development of Projects and assignments
The core investment strategy of PEL is to jointly develop projects with a view to invest as promoter and hold on to investment rather than investing with intent to exit. PEL has accordingly formulated an investment policy and is pursuing a number of projects in the energy sector. PEL has undertaken a strategic investment of 48% equity amounting to Rs. 23.40 crores for joint development of 80 MW wind farm in Tamilnadu.
PEL is also providing consultancy to large gamut of clientele across different phases of energy sector value chain.
Brief Profile of PTC Energy Limited
PTC Energy Limited (PEL) was formed in August 2008 with an objective to develop asset base taking in to its sphere the business of generation, supply, distribution, transmission and dealing in all forms of energy including import and export of coal, conversion of coal/ fuels in to electricity, fuel linkages and provide advisory services in energy sector and energy efficiency.
During October 2009, Company started imported fuel intermediation and thereafter added to its volumes including the quantities sold/supplied to PTC India Ltd (PTC) for its tolling agreements. During the period from 2009 to 2014, PEL has supplied total quantities of approx. 21 lakh metric tonnes. Due to conversion of its tolling arrangements in to trading arrangements by PTC and adverse situations prevailing in the coal trading business, the Company suffered a set- back in its coal business.
In its pursuit to enter in to renewable energy sector, PEL started exploring the opportunities for investment in to renewable energy sector and has made a beginning and commissioned two wind power projects of 30 MW & 20 MW each in Madhya Pradesh before 31st March 2016. The efforts of PEL are being supported by PTC which has accorded its initial approval for providing equity support for solar and wind power projects.
Brief Details of the Wind Power Projects commissioned:
1. 30 MW Wind Power Project at Jaora, Ratlam District in Madhya Pradesh: The Project comprises of 15 Nos. Gamesa make Wind Turbine Generators (WTGs) of 2 MW capacity each and has been successfully commissioned on 8th March 2016. Power Purchase Agreement for the project has been entered in to with Madhya Pradesh Power Management Company Limited.
2. 20 MW Wind Power Project at Nipaniya, Mandsaur District in Madhya Pradesh: The Project comprises of 10 Nos. Inox make Wind Turbine Generators (WTGs) of 2 MW capacity each and all the machines have been commissioned by 29th March 2016.Power Purchase Agreement for the project shall be entered shortly.