Power Finance Corporation Ltd (PFC) on Thursday announced the signing of a loan agreement worth €150 million with Germany’s KfW to finance projects under the Government of India’s Revamped Distribution Sector Scheme (RDSS).

The agreement, signed on August 21 by PFC Chairman and Managing Director Parminder Chopra and KfW CEO Stefan Wintels, will support projects aimed at enhancing the operational and financial efficiency of power distribution companies (DISCOMs) across India.

According to PFC, this agreement builds on the long-standing energy cooperation between India and Germany. PFC and KfW have earlier collaborated on multiple projects in the distribution segment, further strengthening bilateral ties in the energy sector.

The signing ceremony witnessed the presence of Gottfried von Gemmingen, Head of Division for Economic Affairs at the German Embassy in New Delhi, Sandeep Kumar, Director (Finance), PFC, along with senior officials from both organisations.

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“PFC has been at the forefront of financing and enabling reforms in India’s power distribution sector. This new line of credit will help in realising Government’s vision of ensuring reliable, affordable, and sustainable power supply to consumers across the country. We also look forward to working with KfW in new and emerging areas, especially renewables and clean energy, thereby advancing India’s energy transition,” Chopra said in a statement.

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