REC and PFC signs MoU for the fiscal year 2022-23

According to the DPE Performance Evaluation System for FY 2022–23 for CPSEs, REC signed an MoU with PFC on November 29, 2022. In the presence of Ajoy Choudhury, Director (Finance); V K Singh, Director (Technical); Manoj Sharma, Director (Commercial); RR Jha, Director (Projects); T S C Bosh, Executive Director, and other senior officials from REC & PFC, Vivek Kumar Dewangan, CMD, REC signed the MoU with Ravinder Singh Dhillon, CMD. REC is an NBFC focusing on power sector financing and development across India. Established in 1969, REC has completed over fifty years in the area of its operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including generation, transmission, distribution and renewable energy. Recently, REC has also diversified into non-power infrastructure & logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc. Also read: NITI Aayog endorses CCUS policy for carbon capture Rs 1 billion worth development works begin in Ratlam