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

22 Aug 2023 CW Team

The state-owned power sector financier, 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 had been concluded within the framework of the long-term facility of JPY 30 billion that had been extended by JBIC to PFC.

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

The company stated that this particular project would lead to the efficient utilization of 600 metric tonne per day of segregated municipal solid waste, aimed at generating energy. The technology employed for this project involved incineration using the moving grate technology provided by Hitachi Zosen India.

The signing of the loan had taken place at the office of JBIC in New Delhi. The individuals present at the occasion included Parminder Chopra, who was the Chairperson and Managing Director (CMD) of PFC, and Nobumitsu Hayashi, the Governor of JBIC, along with other senior executives from both companies.

Chopra expressed that the agreement underscored the "deep-rooted" cooperation existing between India and Japan. Furthermore, PFC affirmed its continued dedication to promoting the energy transition cause. Chopra looked ahead to the collaborative efforts of JBIC in aiding India's pursuit of its ambitious green energy objectives.

Also read:
Low-grade imports raise India's coal emissions
Coal Ministry pledges $2.6 billion for railway projects

Infrastructure Energy

02 Jun 2026

CMPDIL And MECL Sign MoU To Boost Mineral Exploration

Union Minister of State for Coal and Mines Satish Chandra Dubey chaired a meeting in Ranchi to review the performance of the Central Mine Planning and Design Institute (CMPDIL). The meeting on May 14 was attended by Chaudhari Shivraj Singh, chair and managing director of CMPDIL, Nilendu Kumar Singh, chair and managing director of Central Coalfields Limited, and I D Narayan, chair and managing director of Mineral Exploration and Consultancy (MECL), together with technical directors and senior officers. The ministry said the review covered exploration activities, report preparation, capital expe..

Government Extends Rs 72.8 bn Rare Earth Magnet Scheme Deadline

The Ministry of Heavy Industries has extended the bid submission deadline for the Rs 72.8 billion (bn) scheme to promote domestic manufacturing of rare earth permanent magnets, setting the new closing date at June 29. The decision followed representations from industry stakeholders seeking additional time to prepare and submit proposals under the global tender process. The ministry said the move aims to widen participation as India pushes to build domestic capacity in critical high?tech materials. The scheme is designed to develop integrated manufacturing facilities for sintered rare earth per..

IndianOil To Form JV For Sustainable Aviation Fuel Project At Paradip

The Board of Indian Oil Corporation (IndianOil) approved the formation of a 50:50 joint venture with M11 Energy Transition Private Limited to develop a 100 KTPA Hydroprocessed Esters and Fatty Acids (HEFA) based Sustainable Aviation Fuel plant at Paradip. The decision was taken at the company board meeting on 18 May 2026, and the project cost is estimated at Rs 10,636 million with a plus or minus thirty per cent tolerance. The proposal remains subject to statutory and Government approvals from NITI Aayog and DIPAM. The project is intended to accelerate the development of sustainable and low-ca..