PFC has appointed Ravindra Singh Dhillon as its new CMD

The country’s leading non-banking finance company, the state-owned Power Finance Corporation (PFC), has announced the appointment of Ravinder Singh Dhillon as its Chairman and Managing Director (CMD) with effect from June 1, 2020.

On the occasion, Dhillon stated that PFC needs to diversify its lending business into new areas and new sectors while going out for geographical diversification.

Adding further, he pointed out – “We need to fund areas such as charging infrastructure and electric vehicles, renewable energy sources with substantial storage and also make full efforts to tap business from good business houses.”

The company also underlined the efforts made by Dhillion to geographically diversify power projects through cross-border financing worth INR 9,000 crores in Nepal and Bangladesh.

Prior to this, Dhillon was serving as Director (Projects) for Power Finance Corporation. He has over 35 years’ experience in different fields of the power sector. With B.E. (Electrical) from Thapar Institute of Engg. & Tech., and M. Tech. in Power Systems from IIT Delhi, he has worked in various capacities for years in PFC, handling Project Appraisal, Business Development, Stressed Assets Revival and Monitoring of projects.

In addition to this, he has been a Nominee Director of PFC on the boards of various private and state-sector power companies. Dhillon has also worked with BHEL and Central Electricity Authority for a period of 9 years, before joining the PFC.

PFC plans to provide the first tranche of the INR 90,000 crore package within 60 days, in relation to liquidity support for the power sector. In this regard, Dhillon has asked employees to actively interact with the states on a regular basis to speed up the financial assistance process – in order to meet the above-mentioned timelines.