Power Finance Corporation, under the administrative control of Ministry of Power, has sanctioned transitional loan of Rs. 600 crs to Southern Power Distribution Co. of Andhra Pradesh Ltd. (APSPDCL) and Rs. 400 crs. to Eastern Power Distribution Co. of Andhra Pradesh Ltd. (APEPDCL).
In a regulatory filing, the company said, "The Board of Directors of Power Finance Corporation Ltd. in its meeting held on 16/12/2014 had inter alia approved proposal to sanction transitional loan of Rs. 600 crs to Southern Power Distribution Co. of Andhra Pradesh Ltd. (APSPDCL) and Rs. 400 crs. to Eastern Power Distribution Co. of Andhra Pradesh Ltd. (APEPDCL). Also 'PFC green energy limited' - a wholly owned subsidiary of Power Finance Corporation Ltd. has sanctioned loans of Rs 62 crores to Southern Power Distribution Co. of Andhra Pradesh Ltd and Rs 25 crores to Eastern Power Distribution Co. of Andhra Pradesh Ltd for solar power pump sets."
The statement added, "Further a proposal to sanction a loan of Rs. 24.4 crores(appox) to Southern Power Distribution Co. of Andhra Pradesh Ltd for solar power pump sets is under consideration of competent authority in Power Finance Corporation Ltd."
In a regulatory filing, the company said, "The Board of Directors of Power Finance Corporation Ltd. in its meeting held on 16/12/2014 had inter alia approved proposal to sanction transitional loan of Rs. 600 crs to Southern Power Distribution Co. of Andhra Pradesh Ltd. (APSPDCL) and Rs. 400 crs. to Eastern Power Distribution Co. of Andhra Pradesh Ltd. (APEPDCL). Also 'PFC green energy limited' - a wholly owned subsidiary of Power Finance Corporation Ltd. has sanctioned loans of Rs 62 crores to Southern Power Distribution Co. of Andhra Pradesh Ltd and Rs 25 crores to Eastern Power Distribution Co. of Andhra Pradesh Ltd for solar power pump sets."
The statement added, "Further a proposal to sanction a loan of Rs. 24.4 crores(appox) to Southern Power Distribution Co. of Andhra Pradesh Ltd for solar power pump sets is under consideration of competent authority in Power Finance Corporation Ltd."
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