REC Limited signed a Memorandum of Understanding with PFC on November 29, 2022 in accordance with the DPE Performance Evaluation System for CPSEs for FY 2022-23. REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna company under the administrative control of the Ministry of Power.

Vivek Kumar Dewangan, CMD, REC signed the MoU with Ravinder Singh Dhillon, CMD, PFC in the presence of Ajoy Choudhury, Director(Finance), REC, V.K. Singh, Director(Technical), REC, Manoj Sharma, Director(Commercial), PFC, RR Jha, Director(Projects), PFC, T.S.C. Bosh, Executive Director, REC and other senior officials from REC & PFC.

In October 2022, the two organizations inked a pact to provide ₹8,520.92 crore finance for setting up a 1,320 MW thermal power plant at Buxar by SJVN Thermal Private Ltd.

Related Stories

Centre hikes sugarcane support price by Rs 10

REC Reports Highest Quarterly And Annual Profits Ever

REC Earns Spot In Morgan Stanley Capital International

New Delhi: REC Ltd Hosts Workshop on Integrated Digital Platform for Electricity Distribution Schemes

Power Finance Corporation signed MoU with KHEL to extend term load on hydro project

REC Ltd & PNB Collaborate to Fund 55,000 Crores in Power and Infrastructure Projects

REC Ltd to Support Education of 75,000 Children in UP’s Siddharthnagar

REC Ltd and Damodar Valley Corporation Sign 588 Crore Agreement to Develop Coal Mines

REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited 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.