Navaratna PSU Rural Electrification Corporation Limited (RECL) recently celebrated its 54th Foundation Day. RECL was established on July 25th, 1969, in New Delhi against the backdrop of severe drought and famine in the nation’s capital with a mission to electrify agricultural pump sets, thereby diminishing agriculture’s reliance on unpredictable monsoons.
Since its inception, REC has transformed from a rural energy initiative into a key player across the entire Power Infrastructure sector, including Generation, Transmission, Distribution, Renewable Energy, and cutting-edge technologies like Electric Vehicles, Battery Storage, and Green Hydrogen. In recent years, REC has expanded its reach into Non-Power Infrastructure, investing in Roads & Expressways, Metro Rail, Airports, IT Communication, and various Social and Commercial projects such as educational institutions and hospitals, as well as Ports and Electro-Mechanical works in sectors like Steel and Refinery.
Spearheading this phenomenal growth story is Mr. Vivek Kumar Dewangan (1993-batch Manipur Cadre IAS officer), the incumbent Chairman and Managing Director (CMD) of the entity since May 17th, 2022. With a distinguished career in Finance, Power & Energy, and Rural Development, Officer Dewangan provides strategic leadership and vision to REC and also serves as the ex-officio Chairman of REC Power Development and Consultancy Limited (RECPDCL).
REC and its Management Team are deeply committed to Corporate Social Responsibility, focusing on skill development, health, education, and women empowerment, making a tangible impact on millions of lives. Under the management team, REC remains dedicated to fostering communities as an integral part of its mission, and, continues its impactful Corporate Social Responsibility (CSR) activities under its REC Foundation.
Budding from a modest initiative, REC has come a long way as a leading institution dedicated to fostering India’s growth and development. The company finances its operations through market borrowings, including bonds and term loans, and maintains top domestic ratings of “AAA,” with international ratings of “Baa3” from Moody’s and “BBB-” from Fitch. With 22 state offices nationwide, REC ensures effective service delivery and impact. Its subsidiary, RECPDCL, provides specialised consultancy in the power sector, while RECIPMT in Hyderabad delivers training on electricity and renewable energy systems.
