Power Trading Corporation’s (PTC) investment arm PTC Indian Financial Services (PFS) has entered into the carbon financing business. PFS has provided an upfront carbon financing to a 20 MW Hydro Project in Orissa. The finance was given against forward purchases of CER (certified emission reduction) credits that the project is expected to earn.
PFS has also signed a memorandum of understanding (MoU) with London-based Macquarie Bank for cooperation in the carbon finance business. With its expertise in providing investment and financing solutions to renewable energy projects in the country, PFS is well-placed to assist renewable energy projects for carbon financing. These would include projects in biomass, wind, solar, small hydro energy and energy efficiency. Under the renewable sector, PFS has supported projects with a cumulative capacity of about 340 MW through debt and equity assistance. PFS also has a pipeline of renewable sector projects with cumulative capacities of more than 100 MW. The cumulative equity and debt sanction of PFS in renewable and non-renewable space is in the range of Rs 2,100 crore. PFS envisages significant growth in emission reduction activities in India and, hence, sees diversified opportunities in carbon finance. In the next three years, PFS proposes to build a portfolio of more than 3 million carbon credits. 
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