Power Finance Corporation (PFC) has inked an agreement with Japan Bank for International Cooperation (JBIC) for 120 billion Japanese yen (around Rs 6,600 crore) loan facility on 15 January, 2025.

JBIC will provide funding of JPY 72 billion, and the balance will be funded by commercial banks. This long-term of up to 20 years' loan to PFC will be provided under JBIC's initiative 'Global action for Reconciling Economic growth and Environmental preservation' (GREEN). The funds will be utilized by PFC to finance its renewable energy portfolio, advancing India's transition to non-fossil-fuel-based energy sources. 

This deal marks the largest green financing agreement ever executed by JBIC with any company in India, as this credit line is four times larger than the previous one and offers an extended tenure. 

The loan agreement was signed by  Chairman and Managing Director, PFC, Parminder Chopra, and  Senior Managing Director, JBIC Ogawa Kazunori, in the presence of Takashi Ariyoshi, Minister & Deputy Chief of Mission, Embassy of Japan; Shibuya Atsuki, Deputy Director General, JBIC.