Power Finance Corporation Limited Overview
Pro stress-test →Power Finance Corporation Limited is a Systemically Important Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company engaged in extending financial assistance to the Indian power sector. The company provides critical financing infrastructure supporting India's energy transition through project-based lending to generation, transmission, and distribution sectors.
Strategic Profile
Pro stress-test →As of February 2026, PFC acquired 52.63% of the government's holding in REC, with PFC and REC now operating as holding and subsidiary companies. A board-approved merger between PFC and REC is planned, with PFC continuing as a Government Company post-merger. This consolidation positions PFC as a dominant force in Indian power sector financing.
Competitive Landscape
Pro stress-test →PFC maintains approximately 44% market share in Indian power sector financing. Key competitors include REC Limited (now subsidiary), IRFC, IREDA, and L&T Finance, with PFC's government backing and REC consolidation establishing market dominance in infrastructure lending.
Industry Context
Power Finance Corporation Limited operates in Infrastructure Finance / Non-Banking Financial Company (NBFC).
Key facts
Founded: 1986 · Headquarters: New Delhi, India · Market cap: ₹132,186 Crore (~$16B USD)