PTC Financial Services partners with UKCI, DFID for India’s first green debt fund

PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and the Department for International Development (DFID), UK. The company has raised Rs 4 billion from SBI under the credit enhancement scheme, enabling it to raise bonds worth Rs 20 billion. The Renewable Infrastructure Development Fund (RIDF) will be set up with an initial corpus of Rs 5 billion and be managed by a separate company. The cost of funding will be lower in the RIDF as compared to rates at which PFS usually raises money.


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