Power Finance Corporation (PFC) has secured a finance of JPY 25.5 billion (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project.

Part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, the proceeds will be used to finance 300.3 MW wind energy project of Ostro Kannada Power (OKPPL) in Karnataka.

In addition to JBIC's contribution, the finance is co-financed by Sumitomo Mitsui Banking Corporation, along with other Japanese banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions.

PFC is a Maharatna company and leading NBFC in the Indian power sector.