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The year 2015 is a landmark in our pursuit of sustainability! The <keyword id="6355833" type="General" weightage="50" keywordseo="united-nations" source="Orion">United Nations</keyword> adopted Agenda 2030 for Sustainable Development in 2015, including 17 Sustainable Development Goals (SDGs) to end poverty, protect the environment, and ensure prosperity for all, laying a roadmap to ensure sustainable social, environmental, and economic progress worldwide. In the same year, <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> and 195 other member nations adopted the Paris Agreement—the most ambitious effort so far to strengthen the global response to the threat of climate change. The Agreement aims to limit the rise in the 21st century’s mean global temperature to within 1.5°C of pre-industrial levels and saw a slight shift from the Kyoto Protocol Principles of Common but Differentiated Responsibilities. <keyword id="3087299" type="General" weightage="50" keywordseo="paris-agreement" source="Orion">Paris Agreement</keyword> called for all countries to submit a plan, known as a Nationally Determined Contribution (<keyword id="66873" type="General" weightage="50" keywordseo="ndc" source="Orion">NDC</keyword>), that detailed their contributions to achieving the agreement’s objectives. All parties must revise NDCs every five years to aim for even faster progress towards net-zero emissions and should regularly report on their emissions and their implementation efforts. <cmsannotation type="cmsannotation" annotationid="India’s commitment to climate action" comment="subhead" text="India’s commitment to climate action">India’s commitment to climate action</cmsannotation> Recognising that technology and finance will be key enablers, India’s NDC detailed its two-pronged approach, comprising the promotion of clean <keyword id="6357014" type="General" weightage="80" keywordseo="energy" source="Orion">energy</keyword> technology and enhancing energy efficiency. In addition, our country identified other mitigation strategies like developing climate-resilient urban centres and setting up a green transportation network for safe, smart, and sustainable emissions reduction. In line with the spirit of the Agreement, Prime Minister Narendra Modi announced India’s upgraded Panchamrit strategy at the 26th Conference of Parties (COP-26) last year, comprising five immediate goals to achieve net-zero emissions by 2070. Chief amongst them is reaching a non-fossil fuel energy capacity of 500 GW by 2030, with at least 50% of all energy requirements being met by renewable energy sources. Furthermore, outlining the country’s strong climate ambition for the current decade, India has called upon the investor community to invest in research and development, manufacturing, and deployment of green technologies, also known as <keyword id="736063" type="General" weightage="50" keywordseo="green-infrastructure" source="Orion">green infrastructure</keyword> finance. On its part, the <keyword id="26362" type="General" weightage="50" keywordseo="government" source="Orion">Government</keyword> of India (GoI) has already launched a Climate Finance Leadership Initiative (CFLI) in partnership with the UK government to mobilise private capital in support of green energy projects in India. <cmsannotation type="cmsannotation" annotationid="Towards clean energy" comment="subhead" text="Towards clean energy">Towards clean energy</cmsannotation> Even before the formation of CFLI India, the country had already more than doubled the share of renewable energy in the total energy mix from 11.8% in March 2015 to 25.2% in July 2021. Additionally, about 63 GW of renewable energy capacity is under various construction phases and will add to the current non-fossil fuel-based installed capacity of 157.32GW. With India’s power requirements estimated to reach 817 GW by 2030 as per the Central Electricity Authority, the country will need to tackle cost headwinds for solar power projects caused by a nearly 35% increase in the average price of imported solar PV modules over the past year. The Indian chapter of the CFLI will thus aim to accelerate financing for renewable energy infrastructure, with a particular focus on solar and wind power-based projects. This initiative will go a long way in supporting the achievement of India’s target of 450 GW of renewable energy by 2030 and can potentially take installed power capacity from non-fossil fuels to 66% of the total energy capacity in the country. According to climate and energy research firm CEEW Centre for Energy Finance (CEEW-CEF), India will need close to US$10 trillion or roughly ₹750 lakh crore to meet its goals of net-zero carbon emissions by 2070. This will involve taking India’s total installed solar power capacity to over 5,600 GW by 2070, dropping the usage of coal for power generation by 99% before 2060 and developing <a href="https://www.ceew.in/publications/reducing-green-hydrogen-production-cost-in-india">Green hydrogen</a> infrastructure to contribute 19% of the total industrial sector’s energy needs by 2070. India has also signalled that the future of mobility is Electric! This is also evident from the continuous decline in Battery pack pricing, decreasing from around Rs 75,000/kWh in 2010 to Rs 11,000/kWh in 2021, bringing the EV sector to the forefront as the country’s next sunshine sector. Technology cost, customer preference, and infrastructure rollout remain the critical impediments to the faster adoption of Electric vehicles. India’s retail vehicle finance industry is estimated at Rs 4.50 lakh crore as per <keyword id="2644759" type="General" weightage="50" keywordseo="niti-ayog" source="Orion">Niti Ayog</keyword>, and only recently specialised EV loans have been taken up by the Banks/FIs. <cmsannotation type="cmsannotation" annotationid="Financing a sustainable future" comment="subhead" text="Financing a sustainable future">Financing a sustainable future</cmsannotation> A NITI Aayog report estimates that the energy sector would need US$4.5 trillion by 2030 to address the current infrastructure gaps and increase the renewable energy sector’s share to 50% of the total energy produced. With the country relying on domestic finance so far, the onus is now clearly on local and foreign entities to step-up green infrastructure financing initiatives. It will be a critical enabler for the world’s fastest-growing major economy to achieve its ambitious targets set for 2030. Foreign funds are now available to meet this demand, but they come with perils. The overall financing cost of such foreign funds can also be a non-starter for many domestic players as it would appear that this cheap financing is available at 2 to 4%, but hedge fund cost makes it too steep. The Government can step in by establishing a Hedge Fund, which can bring in the necessary respite. This Government hedge fund can be created to fund risks on account of currency fluctuation up to a certain range, thereby bringing down the overall cost for developers seeking the Foreign funds. Debt funds can also be tapped to offer cheaper financing when projects are implemented in India. In the past, the Government had also provided additional Income tax incentives under Section 80CCF under Infrastructure Bonds. Evidently, the growth of infrastructure projects, especially renewables, accelerated during that period. Currently, the Agriculture Infrastructure and Development Cess and the Road and Infrastructure Cess are levied on the sale of petrol and diesel. Similarly, a cess can be earmarked for financing Green Infrastructure projects. We have also witnessed a surge in the Energy exchange prices late, with the thermal merchant power plants being the biggest beneficiaries in the Day-Ahead Markets. Although the Central Regulator has stepped in and put a forbearance price for such sale of power, however, a mechanism should be in place to introduce sharing of such windfall gains by contributing a certain percentage of the profits towards Green Infrastructure development. Shri Sitesh Sinha is the Head, Credit, and Senior Vice President at PTC India Financial Services Limited. Disclaimer: The opinions expressed are of the author/interviewee and do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity. This column is part of June 2022’s month-long awareness campaign on the theme “Only One Earth: Sustaining People, Planet and Prosperity” by <a href="https://www.businessinsider.in/sustainability">Business Insider India’s Sustainability Insider</a>.

OPINION: India’s fight against climate change hangs in balance! Here’s how the country could finance a sustainable future

New Delhi, <keyword id="64243" type="General" weightage="20" keywordseo="Oil-and-Natural-Gas-Corporation" source="Orion">Oil and Natural Gas Corporation</keyword> (<keyword id="6354737" type="General" weightage="20" keywordseo="ONGC" source="Orion">ONGC</keyword>) has won a bid to acquire <keyword id="51731" type="General" weightage="20" keywordseo="PTC" source="Orion">PTC</keyword> India Ltd's wind power unit for Rs 925 crore as the state-owned firm continues to build a renewable energy portfolio to balance its fossil fuel business. In a stock exchange filing, India's top oil and gas producer said it has over the years diversified into the petrochemicals and power business besides growing its core business of finding hydrocarbons. ONGC said it has taken various initiatives for renewable energy power generation and already has 189 megawatt (MW) capacity, including wind and solar PV plants spread across various locations. "With a vision to expand its business in renewable energy, the company had participated in the bidding process for acquisition of 100 per cent equity stake of PTC Energy Limited (PEL), a wholly-owned subsidiary of PTC India Limited (PTC)," it said. The PTC board last week approved ONGC's bid for the acquisition of a 100 per cent equity stake in PEL at an equity value of Rs 925 crore, it said. The nod is subject to the approval of PTC shareholders. PEL, incorporated on August 1, 2008, has a renewable energy portfolio of 288.8 MW consisting of 50 MW wind power projects in Madhya Pradesh, 50 MW wind power projects in Karnataka and 188.8 MW wind power projects in Andhra Pradesh. The company has entered into long-term agreements with state distribution companies for an entire portfolio of 288.8 MW wind power projects. PEL had a profit of Rs 13.88 crore on a revenue of Rs 296.77 crore during the 2022-23 fiscal year (April 2022 to March 2023). PTC India, which is a leading power trading and financial services solutions provider, in a separate filing, said the "date of the extraordinary general meeting and date of signing of shareholder's agreement will be intimated as and when executed". ONGC has previously announced an investment of about Rs 2 lakh crore to achieve zero carbon emissions by 2038. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, a green ammonia plant, and offshore wind energy projects. The remaining would flow thereafter to achieve Scope 1 and 2 net zero carbon emissions. All this while, it continues to hunt and produce more oil and gas. The company currently has 189 MW of capacity to generate electricity from renewable sources. It is targeting 10 GW by 2030. The firm already has signed an MoU for 5 GW in Rajasthan and is scouting for projects of similar size. Besides, it wants to set up 25 compressed biogas plants that will convert agri-residue into gas that can be used to run automobiles (CNG) or used in industries to generate electricity and fertiliser. ONGC is also scouting for opportunities to set up a 1 million tonnes per annum green ammonia plant. Scope 1 emissions are from directly emitting sources that are owned or controlled by a company. Scope 2 emissions are from the consumption of purchased electricity, steam, or other sources of energy generated upstream from a company's direct operations. ONGC produced 19.584 million tonnes (MT) of oil in 2022-23, up from 19.545 MT in the previous year. The output is likely to rise to 20.232 MT in the current fiscal (April 2023 to March 2024) and to 21.265 MT in 2024-25. Natural gas output is slated to rise from 20.636 billion cubic metres (bcm) in 2022-23 to 20.882 bcm in 2023-24, 22.171 bcm in the following year and 23.708 bcm in 2025-26.

ONGC wins bid to acquire PTC's wind power unit for Rs 925 cr

Shares of <keyword id="188355" type="General" weightage="20" keywordseo="PTC-India-Financial-Services" source="Orion">PTC India Financial Services</keyword> declined around 18 per cent in early trade on Thursday as the company on Wednesday announced that three of its independent directors have resigned from their posts with immediate effect. At 11.15 a.m., the shares traded at Rs 21.15, down 17.5 per cent. Three independent directors were Kamlesh Shivji Vikamsey, Thomas Mathew T., and Santosh B. Nayar, respectively. They resigned over some corporate governance issues facing the company. This is apparently the first instance where all the independent directors of a company have resigned together. "We are in receipt of resignations from three independent directors mentioning some reasons. The matter will be addressed at the board level and subsequent updates will be communicated to all the stakeholders appropriately," the company said in a regulatory filing on Thursday. The company is promoted by PTC India, which is registered with RBI as NBFC. "As independent director, I have placed on record many times - specially over the past few months - my deep displeasure about the lack of appropriate information being made available to the Board," the regulatory filing in which Mathew's resignation was attached, read. "Even when supplied, I have questioned the very poor quality of information being shared with the directors as also complete disregard to timelines in flow of information to the directors between the company management and the board is necessary for the independent directors to function effectively and reasonably perform our duties," Mathew's resignation letter further read. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-green-jumped-45-in-2022-so-far-to-become-more-valuable-than-lt-maruti-suzuki-axis-bank/articleshow/89013318.cms">Adani Green Energy stock has jumped 45% this year to become more valuable than L&amp;T, Maruti Suzuki, and Axis Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/justdial-cant-beat-google-and-it-should-stop-trying-to-say-analysts/articleshow/89010438.cms">JustDial can’t beat Google and it should stop trying to, say analysts</a>

PTC India Financial Services slips 18% after three independent directors resign

In a survey to understand how India is taking <keyword id="6354484" type="PERSON" weightage="100" keywordseo="Donald-Trump">Donald Trump</keyword>’s election as the <keyword id="15548" type="POSITION" weightage="100" keywordseo="US-President">US president</keyword> and the demonetization drive by PM Modi, <a href="http://www.businessinsider.in/An-MDI-student-who-interned-with-Coca-Cola-tells-why-those-two-months-were-the-best-time-of-his-life/articleshow/53487612.cms">s</a>tudents from MDI, <a href="http://www.businessinsider.in/The-10-Best-Business-Schools-in-India/articleshow/53115295.cms">one of India's leading B-schools</a>, said they feel that Indo-US political and defence relations will improve during Trump’s tenure and demonetization move could actually curb black money. 
 It was an on-the-spot survey carried out by <keyword id="3904015" type="UNKNOWN" weightage="100" keywordseo="MDI-students">MDI students</keyword> as several industry leaders and stalwarts congregated in the campus to celebrate the 20th edition of Delphique, MDI’s annual National Management Convention and a most-awaited event in the institute’s calendar. 
 
With more than 800 participants, 24 companies and 65 industry stalwarts at the 3-day event, Delphique was buzzing with intense discussions around Patanjali, Bond markets and alternative funding sources for the infrastructure sector, Benchmarking of Indian cigarettes industry vis-a- vis foreign markets and Employer branding on social media. 
 Staying true to its theme of ‘Research, Review and Resolve’, the students carried out an on-the-spot survey around Donald Trump and Modi’s <keyword id="3315394" type="UNKNOWN" weightage="100" keywordseo="demonetisation">demonetisation</keyword> drive. 
 
Interestingly, a big percentage of the sample group of eminent industry leaders and <a href="http://www.businessinsider.in/An-MDI-student-who-interned-with-Coca-Cola-tells-why-those-two-months-were-the-best-time-of-his-life/articleshow/53487612.cms">students of MDI</a> who took part in the survey felt that Indo-US political and defence relations will improve during Trump’s tenure while few felt that there is likely to be a slowdown in the IT sector. On demonetisation, the sample group felt that it could actually curb black money in the long run. The panelists from the participants only, however, did not agree to the prediction that India might face a subdued <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> growth. 
 Another major highlight of Delphique was the Cerebro-National Case Study competition, which was conducted in association with The Times Group. More than 200 participants across top <keyword id="96363" type="UNKNOWN" weightage="100" keywordseo="B-schools">B-schools</keyword> in India took part in the competition, with the scenarios getting tougher in each round. 
 A new entrant in this year’s Delphique was a business plan and start-up idea competition ‘Vincenza’ organised in association with <keyword id="328347" type="ORGANIZATION" weightage="20" keywordseo="Indian-Angel-Network">Indian Angel Network</keyword> and VCCircle. The event even saw international participation with teams from the UK which was affiliated with the Erasmus Student network. 
 
Big names from the industry like Rajeev Talwar, CEO and Whole-time director, DLF Ltd. and Robert Menzies, Head- Strategy and corporate planning, Godrej Industries Ltd. were in the campus as inaugural speakers. Meanwhile discussions with others like - Sofia Eriksson, Global Head of Communications at Ericsson India Global services; Rajesh Kurup, Managing Director at Millward Brown; Sanjay Bakshi, Managing Partner at ValueQuest Capital; Kiran Ramamurthy, Senior Vice president at Ogilvy &amp; Mather; Pawan Singh, Director – PTC India Financial Services – on deep insights and industry expertise had many students saying it was an extensive learning experience for them to engage with the leaders.

Students from one of India's leading B-school are happy with Trump as the US President, and feel Modi's demonetisation move is good for the country

New Delhi, Jul 3 () PTC India Financial Services Ltd (PFS) on Friday said it has secured a Rs 300 crore term loan from State Bank of India, to meet its business growth needs. The money will be utilised for further strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, PFS said in a release. SBI has sanctioned us a term loan - working capital augmentation (TLWC) of Rs 300 crore with a door-to-door tenor of three years, including a moratorium of six months, with sub-limit of Rs 300 crore as investment limit for investment in commercial papers/non-convertible debentures/bonds within the overall TLWC limit, it said in a release. SBI has already given credit lines of Rs 1,400 crore to the company and now with current sanction their exposure will increase to Rs 1,700 crore and it will further diversify company's sources of borrowings, PFS said. PFS proposes to have further alternate sources of financing like ECB, commercial paper, bonds, etc for which advance progress has already been made. KPM MKJ

PFS secures Rs 300-cr term loan from SBI to fund biz plans

New Delhi, Jan 27 () PTC India Financial Services has reported 3.2 per cent increase in its consolidated net profit to Rs 43.06 crore in the third quarter ended December 31.
The long-term infrastructure financier for the power sector had posted a net profit of Rs 41.73 crore during the corresponding October-December period of 2018-19.
Total income of the company fell marginally to Rs 331.70 crore during the third quarter of 2019-20, as against Rs 336.31 crore in the year-ago period.
Stock of PFS closed at Rs 17.26 on the BSE, up 1.65 per cent from previous close. KPM KPM BAL
BAL

PFS Q3 net up 3.2 pc at Rs 43 cr

New Delhi, Dec 15 () PTC India Financial Services (PFS) has received Rs 145 crore as part of resolution of its stressed loan account in the thermal power segment.
 The long-term infrastructure financing company said it has recovered Rs 145 crore from Prayagraj Power Generation Company Ltd (PPGCL).
 PPGCL owns and operates a 1,980 MW (3X660 MW) coal-based thermal power project in Uttar Pradesh and had become a non-performing asset due to financial and operational stresses.
 PFS is also expected to receive Rs 7 crore as per agreement, PFS said in a statement on Sunday.
 This development shall augment the liquidity position of PFS and also result in a reduction of its stressed assets portfolio.
 "Going forward, it shall also have a positive bearing on the yields and spread of PFS as this account was reflected in the assets but not yielding any income," it said.
 The resolution was achieved under the open bidding process initiated by the consortium lenders led by State Bank of India, wherein a one-time settlement (OTS) offer submitted by Resurgent Power Ventures Pte Limited emerged as the highest bidder.
 PFS said this resolution is one of the many stressed assets that the company has resolved successfully in the recent past.
 The non-banking financial company for the power sector has already resolved stressed assets exposure of almost Rs 1,000 crore and is in the process of resolving balance stressed assets in the near future which is expected to improve its financials going forward.
 The total PFS exposure in the instant stressed account was Rs 328.70 crore. PFS had already provided for the balance amount left after the resolution amount, it added. KPM HRS

PFS gets Rs 145 cr from resolution of stressed account Prayagraj Power Generation Company

New Delhi, Feb 1 () The government has proposed to provide credit guarantee for the NBFC sector that has been facing liquidity crisis since the burst of the IL&amp;FS scam nearly one-and-a-half years ago.
 Besides, the asset-wise eligibility criterion to be admitted under the debt recovery process has been reduced, according to Budget documents.
 To address the liquidity constraints of non-banking financial companies (NBFCs) and housing finance companies (HFCs), the government proposed to set up a partial credit guarantee scheme for the sector after the Union Budget 2019-20.
 "To further this support of providing liquidity, a mechanism would be devised. The government will offer support by guaranteeing securities so floated," the Budget documents said.
 Pawan Singh, managing director and CEO, PTC India Financial Services, said, "The announcement of the government's intent to guarantee securities floated to provide liquidity for NBFCs is expected to help in tiding over the current liquidity crunch."
 The Budget also stated that the limit for NBFCs to be eligible for debt recovery under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, is proposed to be reduced from Rs 500 crore to asset size of Rs 100 crore or loan size from the existing Rs 1 crore to Rs 50 lakh.
 Tata Capital MD and CEO Rajiv Sabharwal said positive measures have been taken to boost the NBFC and HFC sector. "Enhancement of FPI limits in corporate bonds, abolishing of the dividend distribution tax regime and date extension of the partial credit guarantee scheme will increase flow of liquidity."
 Umesh Revankar, MD and CEO, Shriram Transport Finance, said that under the SARFAESI Act, the debt recovery has reduced from Rs 1 crore to Rs 50 lakh is one step ahead. "We would still expect it to be on par with banks which currently stand at Rs 1 lakh."
 Muthoot Finance MD George Alexander Muthoot said, "The Budget 2020 plays the balancing act very well. The enhancement of the partial credit guarantee scheme for NBFCs is encouraging."
 The IL&amp;FS crisis following debt defaults in 2018 had led to a contagion in the domestic NBFCs sector, followed by DHFL defaults.
 The payment defaults emanating from them resulted in a chain reaction, adversely affecting the market price of their commercial papers, panic sale by investors in debt mutual funds.
 The Economic Survey 2019-20 on Friday introduced an early-warning detection 'Health Score' system for NBFCs and HFCs and help assess the impending liquidity problems facing the companies in the sectors. KPM HRS

You Searched For "ptc india financial services limiteddisclaimer" and got 8 results

OPINION: India’s fight against climate change hangs in balance! Here’s how the country could finance a sustainable future

Sitesh Sinha

ONGC wins bid to acquire PTC's wind power unit for Rs 925 cr

PTI

PTC India Financial Services slips 18% after three independent directors resign

IANS

Students from one of India's leading B-school are happy with Trump as the US President, and feel Modi's demonetisation move is good for the country

Anushree Singh

PFS secures Rs 300-cr term loan from SBI to fund biz plans

PTI

PFS Q3 net up 3.2 pc at Rs 43 cr

PTI

PFS gets Rs 145 cr from resolution of stressed account Prayagraj Power Generation Company

PTI

Govt proposes guarantee on debt to tide over liquidity challenge in NBFC, HFC sector

PTI

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