Gujarati Club News: [Gujarati Club] Last chance to save Income Tax - PFS Infrastructure Bonds

[Attachment(s) from nikhil vadia included below]

PFS Infrastructure Bonds : (Closing Date - 27.03.2012)

The Promoter of PFS, namely, PTC was set up as a Government of India (GoI) initiative for incentivising market based investments to the power sector, especially from the private sector. It was formed in the year 1999 by public sector undertakings owned by the GoI namely as under

1) National Thermal Power Company Ltd (NTPC) - the largest power company in India having installed capacity of around 30,000 MW,

2) Power Finance Corporation Ltd. - power sector specific, developmental financial institution having a cumulative disbursement of around USD 23 billion and

3) POWERGRID - national transmission company of India.

4) Subsequently National Hydro Power Corporation (NHPC) - India's premier hydro power utility having around 5,200 MW of hydro capacity, has also joined hands.

GoI owned power sector undertakings NTPC, NHPC, PFC and POWERGRID collectively holds approx 16% stake in PTC. PTC has net worth of USD 450 Million and continues to be a leading power trader in the country with market share of more than 50%.

As a promoter, PTC holds 60% of the equity whereas Goldman Sachs, Macquarie Group, State Bank of India, LIC, Capital International and Global Investment House are other major shareholders.

About PFS :

PFS is an Indian non-banking finance institution promoted by PTC India Limited. Company offers an integrated suite of financial services with a focus on infrastructure development, including providing debt (short term and long term) financing and making principal investments in, private sector Indian companies in the Power sector, including power generation, equipment supply and fuel source projects. PFS is currently focused primarily on power generation projects in India and also provides fee based syndication and other services as well as carbon credit financing against Certified Emissions Reduction (CER). It has also received the Infrastructure Finance Company ("IFC") status in FY11PFS also provides non-fund based financial services adding value to green field and brown field projects at various stages of growth and development.

PTC today is not just the leading power trader in the country, but has also diversified into the unique role of being a complete energy solutions provider.

Portfolio

Since 2008 PFS has made its significant contribution in the development of Power Sector through its participation in form of equity or debt financing.

Equity Investments.

PFS is one of the promoters of India's first power exchange viz. Indian Energy Exchange and currently holds approx 21.12% equity after divestment of 4.88% stake in FY 2011. The exchange holds more than 84% market share. The exchange was set up to catalyse the modernization of electricity trade in the country by ushering in a transparent and neutral market through a technology-enabled electronic trading platform.
Conventional Projects

26% equity stake in 3*63 MW (i.e.189 MW) imported coal based power project in Thoothukkudi District, Tamil Nadu. The project is fully commissioned as on June 2011.
20% equity stake in 2*350 MW domestic coal based thermal power project in Orissa. The project is expected to be commissioned by March 2012 and project implementation is as per schedule.
13% equity stake in stage I of 2*660 MW thermal power project in Andhra Pradesh. The project is expected to be commissioned in 2014.
19% equity in the 900 MW (Phase I - 300 MW and Phase II - 600 MW) imported coal based power project in Andhra Pradesh. Phase I is expected to be to be commissioned by December 2011 and Phase II in March 2013.

Non Conventional Projects

37% equity in a 99.45 MW wind power project in Maharashtra. Phase I of 41.25 MW has been commissioned and Phase II is under development
26% equity in a 10 MW biomass power project in Maharashtra. The project was commissioned in 2009
Upto 26% equity in an SPV, to undertake 500 MW of biomass and renewable energy projects. Around 50 projects already identified and out of these permissions for 25 projects received from state govt.

Debt Financing

As on 30 June 2011, PFS has sanctioned more than Rs 3,500 Crore in form of Long term and short term debt assistance to various power projects which will help to generate more than 11,000 MW capacity in coming years. As on 30 June 2011, PFS has disbursed gross amount of Rs 900 crore as part of debt assistance.

Some of major debt assisted projects are:

1320 MW Coal based project in Haryana wherein PFS has sanctioned & disbursed Rs 31.87 Crore. Project is expected to be commissioned by Jan 2012
1320 MW Coal based project in Andhra Pradesh wherein PFS has committed Rs 120 crores. Project is likely to be commissioned by May 2014
1080 MW Coal based project in Chhattisgarh wherein PFS has committed Rs 70 crores. Project is likely to be commissioned by June 2013
450 MW Coal based project in Uttar Pradesh wherein PFS has committed Rs 75 crores. Project is likely to be commissioned by December 2011
445 MW Gas based project in Andhra Pradesh wherein PFS has sanctioned & disbursed Rs 100 Crore. Project is already commissioned
420 MW Coal based project in Karnataka wherein PFS has sanctioned Rs 120 Crore. Project is likely to be commissioned by April 2013
600 MW Coal based project in Chhattisgarh wherein PFS has sanctioned Rs 250 Crore. Project is likely to be commissioned by July 2014
1200 MW Coal based project in Chhattisgarh wherein PFS has sanctioned Rs 200 Crore. Project is likely to be commissioned by early 2014
96 MW Hydro power project in Sikkim wherein PFS has sanctioned Rs 150 Crore. Project is likely to be commissioned by Sep 2014
10 MW Solar power project in Gujarat wherein PFS has sanctioned Rs 51 Crore. Project is likely to be commissioned by early 2012