Profile
Kerala Power Finance Corporation Limited (KPFC) is a Government Non-Banking Finance Company promoted jointly by the Government of Kerala and Kerala State Electricity Board to provide funds for the speedy development of Power infrastructure in the State of Kerala and was incorporated on 20th March 1998. Commercial activities commenced in March 1999. Company is certified by Reserve Bank of India as a Category 'A' Non-Banking Finance Company.
Considering the huge potential arising in the Infrastructure development in the State, the Board of Directors of the Company decided to diversify the activities of the Company to Infrastructure area also with approval of government. The Government vide G.O (MS) 21/2006/PD dated 03/08/2006 accorded sanction for the same and to amend the Memorandum and Articles of Association of the Company and to rename the Company as Kerala State Power and Infrastructure Finance Corporation Limited (KSPIFC) .
The Registrar of Companies has issued fresh Certificate of Incorporation on 13/12/2006 and the Reserve Bank of India has issued fresh Certificate of Registration on 05/01/2007. After complying with all legal formalities the Company commenced its operations in the new name of Kerala State Power and Infrastructure Finance Corporation Limited (KSPIFC) from 08/01/2007.
Objectives
The main objectives of the Company are:-
- To finance for development and operations of the Kerala State Electricity Board, which is engaged in the generation, transmission and distribution of Electricity within the State of Kerala.
- To finance for development and operations of the Power sector projects, units and stations involved in the generation, transmission and distribution of Electricity within the State of Kerala and to institutions who are suppliers of raw materials, equipments, plant and machinery etc. to various power projects and for financing infrastructure activities within the State of Kerala.
- To assist the Kerala State Electricity Board with long, medium and short term loans or subscribe to their bonds or assist in other ways within the restrictions imposed by the Reserve Bank of India from time to time.
- To undertake and guarantee the issue of bonds and debentures and to co-accept the bills of exchange accepted by the Kerala State Electricity Board.