Parminder Chopra Appointed as CMD of Power Finance Corporation (PFC)

Aditi

2 years ago

Parminder Chopra has made history by becoming the first woman to hold the esteemed position of Chairman and Managing Director (CMD) at Power Finance Corporation (PFC), India’s largest Non-Banking Financial Company (NBFC) in the power sector. Her appointment to this prestigious role commenced on August 14, 2023. Prior to assuming this leadership position, Chopra had been carrying additional responsibilities as CMD starting from June 1. Her journey with PFC began as Director (Finance) on July 1, 2020.

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Parminder Chopra’s ascension to the CMD role at PFC not only marks a significant milestone in her career but also stands as a symbol of progress for women’s leadership in the financial and corporate domains.

Parminder Chopra’s Career & Experience

With an impressive professional trajectory spanning over 35 years in the power and financial sectors, Parminder Chopra brings a wealth of experience to her role.

During her tenure at Power Finance Corporation (PFC), she has held pivotal roles in crucial finance functions.
This includes spearheading activities like resource mobilization in both domestic and international markets, managing banking operations, overseeing treasury functions, implementing asset liability management strategies, and effectively addressing challenges related to stressed assets.

Chopra’s expertise isn’t limited to PFC alone; she has also made significant contributions to other power sector giants such as NHPC and Power Grid Corporation of India, amassing a diverse set of skills and knowledge.

Her Leadership

Under her capable leadership, PFC has intensified its support for clean energy initiatives.
This commitment has translated into funding for various clean energy projects, such as electric vehicles, bio-fuels, and hybrid renewable projects like Round The Clock energy supply.
Moreover, her efforts have extended to backing the manufacturing of renewable equipment.
Demonstrating her dedication to sustainable energy, PFC, under Chopra’s guidance, has entered into substantial Memorandums of Understanding (MoUs) with clean energy developers, amounting to an impressive Rs. 2.40 lakh crore.
These strategic moves have solidified PFC’s position as a leading financier for clean energy ventures.

Chopra’s accomplishments also include her pivotal role in the successful execution of a substantial Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) designed to bolster the power distribution sector. This ambitious scheme was launched under the Atmanirbhar Bharat initiative and has significantly contributed to the sector’s growth and resilience.

About Power Finance Corporation (PFC)

Power Finance Corporation (PFC) is a non-banking financial company (NBFC) that provides loans to power projects in India. It is a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the ownership of the Ministry of Power, Government of India.

PFC was established in 1986 with the objective of providing financial assistance to power projects in India.
It has since then played a major role in the development of the power sector in India.
PFC has financed over 2,000 power projects in India, with a total loan amount of over ₹7 trillion.
PFC offers a wide range of financial products and services to power projects, including term loans, working capital loans, and project consultancy services. It also provides guarantees and underwriting services to power projects.
PFC is a highly rated NBFC with a credit rating of AAA from CRISIL. It is also a member of the International Association of Development Finance Institutions (IADI).

The major role of the PFC is in providing finance to various projects related to the power sector and electrification in India. It also provides consultancy services to power projects.

Key Functions of PFC

Providing loans to power projects: PFC provides loans to power projects at competitive interest rates. It also provides guarantees and underwriting services to power projects.
Providing consultancy services: PFC provides consultancy services to power projects in areas such as project planning, project management, and project finance.
Promoting research and development in the power sector: PFC promotes research and development in the power sector by funding research projects and by providing grants to research institutions.
Enhancing the efficiency of the power sector: PFC enhances the efficiency of the power sector by providing loans for energy efficiency projects and by promoting renewable energy projects.
Improving the financial health of power projects: PFC improves the financial health of power projects by providing loans and by providing guarantees and underwriting services.

PFC is a major player in the power sector in India. It has played a major role in the development of the power sector in India and it continues to play a major role in the sector.

Aditi

Hello, I’m Aditi, the creative mind behind the words at Oliveboard. As a content writer specializing in state-level exams, my mission is to unravel the complexities of exam information, ensuring aspiring candidates find clarity and confidence. Having walked the path of an aspirant myself, I bring a unique perspective to my work, crafting accessible content on Exam Notifications, Admit Cards, and Results.

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