MoP - Ministry of Power

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and to establish a commercial framework and a replicable
methodology adopted by Indian Financial Institutions for
providing non-recourse financing for DRUM activities and
programmes.
PFC has been appointed as Principal Financial Intermediary
responsible for technical assistance and training under
DRUM components. The roles and responsibilities of PFC
for DRUM Project are to i) provide management and
implementation support, ii) co-ordinate with all stake holders,
iii) act as a financial intermediary and banker for controlling
and directing funds (loans and grants) and iv) design
mechanism for leveraging resources of other FIs / Bankers.
18.1 DRUM TECHNICAL ASSISTANCE
DRUM team consists of USAID, MoP, PFC, Consultants
and respective beneficiary States like Maharashtra, Delhi,
Gujarat and Karnataka. The team has prepared detailed
Project Reports (DPRs) for creating Centre of Excellence
in Distribution for two rural areas viz. Dodaballapur of
Banglore Electricity Supply co. Ltd. (BESCOM), Karnataka
and Umreth (Anand) of Madhya Gujarat Vij Co. Ltd.
(MGVCL), Gujarat and two urban areas viz. Sakti Nagar of
North Delhi Power Ltd. (NDPL), Delhi and Aurangabad
(Urban I) of Maharashtra State Electricity Distribution Co
Ltd (MSEDCL), Maharashtra.
PFC has sanctioned a financial assistance of Rs.165.33
crore to BESCOM, MGVCL and MSEDCL. The projects
are under various stages of implementation.
19.0 OFFICE AUTOMATION
In order to keep close liaison with its borrowers in the States,
video conferencing facility is provided in the rooms of senior
board level officials. Desktop computers / Laptops have
been provided to individual officials for computerization of
business processes so as to render improved customerrelated
services to its borrowers.
20.0 CONSULTANCY SERVICES
PFC’s Consultancy Services have grown in operations
manifold and has generated an atmosphere of competitive
pricing and confidence in its clients in the areas where PFC
has been providing such services.
During the year 2007-08, PFC has further enhanced its
reputation as a premier consultancy organization. The turnover
of PFC Consultancy services for the year 2007-08 (as on 30th
Nov 2007) has increased by 1300% over the turnover for the
corresponding period during the year 2006-07.
The pioneering assignments awarded to PFC show the high
degree of trust and confidence manifested by the clients in
the Unit. PFC has been appointed as advisors for assisting
in the selection of developers in line with the Tariff Based
Competitive Bidding Guidelines issued by Ministry of Power
by Punjab State Electricity Board for two thermal power
projects viz. Talwandi Sabo Power Project and Rajpura
Power Project. Out of these projects, PFC has successfully
completed the RFQ stage for Talwandi Sabo Power Project
(1800 +- 10% MW) to be set up in Punjab.
PFC, as part of its Consultancy Services has so far worked
with ‘34’ Clients across ‘20’ States and Union territories.
The Clients include ‘14’ State Power Utilities, ‘8’ Licensees/
IPPs, ‘4’ PSUs, ‘3’ SERCs and ‘5’ State Governments. Some
of the assignments are repeat orders which exhibits Client’s
satisfaction with the services provided.
PFC is focussing on assignments in the following areas
among others:-
Selection of developer through Tariff Based
Competitive Bidding Guidelines issued by MoP, GoI
Overall advisory services for a new Thermal Power
Station.
Computerization of Accounting Systems for State
Utilities.
Restructuring / Implementation of reforms for State
Utilities.
21.0 CLEAN DEVELOPMENT MECHANISM (CDM)
PFC has been nominated as nodal agency by Ministry of
Power for assistance to State Power Utilities in preparation
of CDM projects for R&M of old thermal and hydro
generation units.
PFC is sourcing a grant from ADB to enable state generation
utilities to tap opportunities for exploiting ‘carbon finance’
potential of R&M and RM&U projects. ADB has approved a
technical assistance of US $ 1 Million towards this purpose.
The agreement in this regard shall be executed shortly.
22.0 FUNDING OF RENEWABLE ENERGY PROJECTS
The Company gives priority to funding of Power Projects of
Renewable Energy sources like Wind Farms, Small Hydro
Projects, Bio-mass Projects etc. and provides financial
assistance to state as well as private utilities at competitive
interest rates.
To further give a fillip to financing of new projects, PFC has
signed MOU with Maharashtra Energy Development Agency
(MEDA), (nodal agency of Maharashtra), and Karnataka
Renewable Energy Development Ltd. (KREDL) (nodal
agency of Karnataka) so as to provide single window service
for financing of renewable energy generation projects.
Discussions are also under advance stage in the State of
Tamil Nadu and Rajasthan for signing of similar MOU’s with
the States nodal agencies i.e. Tamilnadu Energy
Development Agency (TEDA) & Rajasthan Renewable
Energy Corporation Ltd. (RRECL).