PFC collaborates with Export Finance Australia (EFA) and Citi to accelerate India’s clean energy transition

Power Finance Corporation Ltd. (PFC), a Maharatna CPSE and the largest NBFC in India, has partnered with Export Finance Australia (EFA), the Australian Government’s export credit agency, to secure an ECA-backed financing facility from Citi, who acted as the Sole ECA Coordinator and Lead Arranger for the facility. This transaction marks EFA’s first-ever financing initiative in India, signalling EFA’s entry into one of the world’s fastest-growing renewable energy markets and underscoring its commitment to supporting sustainable infrastructure globally. The partnership also reflects the strengthening of economic and strategic ties between India and Australia in advancing clean energy cooperation. Under this structure, EFA is extending a guarantee to support PFC in raising USD 180 million from Citi. The funds will be deployed towards green infrastructure projects, including renewable energy, energy efficiency, and clean transportation initiatives across India.

 

The Loan Agreement was signed on 30 th September 2025 by Mrs. Parminder Chopra, Chairman and Managing Director, PFC, and Mr. K Balasubramanian, MD, India CEO, Citi in the presence of Mr. Nick McCaffrey, Australia’s Deputy High Commissioner to India. The signing ceremony was also attended by Mr. Sandeep Kumar, Director (Finance), PFC, Ms. Jasneet Guram, Executive Director (Finance), PFC, Mr. R.K. Chaturvedi, Executive Director (Projects), PFC, and other senior officials from Citi. Speaking on the occasion, Mrs. Parminder Chopra, CMD, PFC, said: “We are delighted to partner with Export Finance Australia on its maiden transaction in India, which reflects growing confidence among global financial institutions in India’s clean energy goals. This collaboration not only expands PFC’s access to competitive, long-term funding but also strengthens India–Australia cooperation in sustainable finance. This partnership underscores PFC’s continued focus on diversifying its funding sources, building global partnerships, and to support India’s transition to a low-carbon economy”