Power Finance Corporation Ltd. (PFC), a leading NBFC in India’s power sector, has signed a JPY 60 billion (approx. ₹3,500 crore) loan agreement with the Japan Bank for International Cooperation (JBIC) to finance clean energy projects in India. The agreement comes under JBIC’s GREEN (Global Action for Reconciling Economic Growth and Environmental Preservation) initiative, with co-financing support from Sumitomo Mitsui Banking Corporation (SMBC) and other Japanese banks.
The landmark deal was signed in Tokyo on Friday by Smt. Parminder Chopra, Chairman & Managing Director, PFC, and Mr. Nobumitsu Hayashi, Governor, JBIC, in the presence of senior officials from both sides. A side agreement was also executed with Sumitomo Mitsui Banking Corporation, represented by Mr. Rajiv Kannan, Managing Executive Director, Head of India Division, SMBC.
According to PFC, this financing will primarily support the establishment of Assam Bio Ethanol Pvt. Ltd.’s pioneering second-generation bio-ethanol and chemicals plant in Assam, marking a major step in India’s transition towards sustainable energy and cleaner fuels.
The loan underscores India-Japan economic cooperation and highlights PFC’s commitment to advancing the clean energy transition, energy security, and sustainable development goals (SDGs).
