PFC gets JPY 1.85 bn loan from JBIC for Karnataka waste-to-energy

The financier of the state energy sector, Power Finance Corporation (PFC), announced that it had entered into a loan agreement with Japan Bank for International Cooperation (JBIC) for an amount of JPY 1.85 billion. The agreement was entered into under the JPY 30 billion long-term facility provided by JBIC to PFC.

It was informed that the funds acquired through the loan were intended to be used to finance the 11.5 MW Waste to Energy Project of KPC Gas Power Corporation, a wholly owned subsidiary of KPCL. This project was located in Bidadi, Ramanagara District, Karnataka.

The company stated that this particular project would lead to the efficient use of 600 tons per day of separated municipal solid waste, aimed at generating energy. The technology used for this project included combustion using Hitachi Zosen India's moving lattice technology.

The signing of the loan had taken place at JBIC's office in New Delhi. The individuals present on the occasion were Parminder Chopra, who was the chairman and managing director (CMD) of PFC, and Nobumitsu Hayashi, the governor of JBIC, along with other senior executives of both companies.

Chopra said the agreement underscored the "deep-rooted" cooperation between India and Japan. In addition, PFC reaffirmed its continued commitment to advancing the energy transition. Chopra looked ahead to JBIC's joint efforts in helping India pursue its ambitious green energy goals.

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