Kerala State Power and Infrastructure Finance Corporation Ltd achieved a milestone with its loan sanctions crossing Rs 1,000 crore. A company official told Projectmonitor that sanctions to the power sector had touched Rs 1,189 crore while disbursements stood at Rs 1,147 crore. Recently, the company provided major assistance to Kerala State Electricity Board to strengthen power infrastructure.
Encouraged by its performance in the power sector, the state-level agency is exploring possibilities of financing projects in areas like civil aviation, urban development, wind energy and information technology.
A non-banking financial company with two promoters—Kerala government and Kerala State Electricity Board— KSPIFC has an operating capital of around Rs 100 crore and paid up capital of around
Rs 26.65 crore. KSPIFC will also be extending financial assistance by way of long term and short term loans to the firms who are supplying raw materials, equipments, plant and machinery etc. to various power producers in the state of Kerala.
The institution was incorporated in March 1998 as Kerala Power Finance Corporation Ltd keeping in mind the potential of power-related infrastructure development in the state. In January 2007, the entity was renamed to Kerala State Power & Infrastructure Finance Corporation Ltd with its scope now extended to even other areas in infrastructure development.