In the dynamic landscape of India’s energy sector, the need for robust financial assistance is paramount to catalyse the growth of power projects. These projects are not just infrastructural assets but are the lifeblood of the nation’s economic engine, driving development and empowering communities. Under the visionary leadership of Parminder Chopra, the Power Finance Corporation (PFC) has emerged as a linchpin in this transformative journey. With a strategic focus on sustainability and innovation, PFC, under Chopra’s stewardship, is not merely bridging the financial gap; it is crafting a legacy of empowerment, enabling power projects to thrive and illuminating the path to a brighter, more sustainable future for India. Her approach intertwines financial acumen with a deep understanding of the sector’s nuances, ensuring that PFC’s support goes beyond funding—it ignites progress.
Parminder Chopra’s ascent to the pinnacle of the Power Finance Corporation (PFC) exemplifies her relentless dedication, strategic acumen, and transformative leadership. Her journey, deeply rooted in a solid foundation in finance and power, spans over 35 years and culminates in her current role as the Chairperson and Managing Director of PFC.
During Parminder’s tenure as Director (Finance) at PFC, her strategic decisions and financial acumen propelled the corporation to achieve unprecedented financial milestones. Her leadership led to PFC’s highest net profit and net worth while maintaining the lowest non-performing assets (NPAs) levels. Her expertise in resource mobilisation, both in domestic and international markets, and her proficiency in banking, treasury, asset liability management, and stressed asset resolution elevated PFC to the coveted ‘Maharatna’ status—a testament to its robust financial health and operational excellence.
A significant moment in Parminder’s illustrious career was her instrumental role in successfully implementing the ₹1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector. This initiative, a part of the Indian government’s Atmanirbhar Bharat campaign, aimed to alleviate the financial strains on power distributors by providing them with immediate liquidity. The scheme’s implementation led to a significant improvement in the financial health of the power distribution sector, ensuring a more stable and self-reliant energy sector.
Parminder’s vision extends beyond traditional power financing. She has been instrumental in steering PFC towards supporting India’s ambitious energy transition goals. Under her guidance, PFC has emerged as the nation’s largest financier of renewable energy projects. The corporation’s portfolio now includes significant investments in electric vehicles, biofuels, and hybrid renewable energy systems, such as Round The Clock power solutions and renewable equipment manufacturing.
Sharing her vision for India’s energy sector and the role of PFC, she believes that India’s power sector, long reliant on coal for over seven decades, stands at a key juncture of change. The forthcoming years are set to be landmark periods for the industry. A complete overhaul is anticipated, affecting our perception of energy and its consumption and production mechanisms. The sector is poised for a technological upheaval, with numerous innovations on the horizon. Various technologies are being explored to forge dependable and sustainable energy sources. PFC, under Parminder’s leadership, is at the forefront of this transition, actively financing and promoting these innovative technologies. Such bold initiatives will necessitate substantial investment, and the Power Finance Corporation, as the premier lender to the power sector in India, is poised to play a crucial role in propelling this vision forward.
Parminder’s contributions have not gone unnoticed. Her strategic initiatives and impactful leadership have earned her prestigious recognitions, including the ‘Icon of the Year’ and ‘Finance Leader of the Year’ awards. These accolades celebrate not just her individual achievements but also her significant impact on PFC’s business, finance, society, and the nation at large. They testify to her transformative leadership and the positive changes she has brought to the power finance industry.
As she continues her professional journey, Parminder remains committed to supporting key government initiatives like the Revamped Distribution Sector Scheme (RDSS) and Late Payment Surcharge (LPS) rules. Her leadership approach, characterised by innovation, inclusivity, and integrity, ensures that PFC remains at the forefront of financing India’s power and infrastructure sectors. Her active involvement in shaping these initiatives and her commitment to their successful implementation further demonstrate her influence and dedication to India’s energy goals.
Parminder Chopra’s story is not just about individual success; it’s about setting a benchmark for excellence in the power finance industry. Her legacy is one of transformation, resilience, and unwavering dedication to the nation’s progress.
