REC signs MoU with PFC for FY 2023-24 & FY 2024-25

REC Limited signed an MoU with PFC, as per the DPE Performance Evaluation System for FY 2023-24 and FY 2024-25 for CPSEs at REC Headquarters, Gurugram. Vivek Kumar Dewangan, CMD, REC signed the MoU with Mrs Parminder Chopra, CMD, PFC in the presence of Ajoy Choudhury, Director(Finance), REC; V K Singh, Director(Projects), REC; Rajiv Ranjan Jha, Director (Projects), PFC; Manoj Sharma, Director (Commercial) and other senior officials from REC & PFC. As per the MoU, REC is committed to improving the revenue from operations from Rs.43,420 Cr targeted in FY 2022-23 to Rs. 46,935 Cr in FY 2023-24.  REC Limited, a Maharatna CPSE, is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Ltd. has completed over 54 years in the area of its operations. It provides financial assistance to complete the power-sector value chain; for various types of projects including Generation, Transmission and distribution, and Renewable Energy. Recently, REC has also diversified into the non-power Infrastructure and logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc. PFC, a Maharatna CPSE, has a majority shareholding in REC. Both REC and PFC are under administrative control of the Ministry of Power, Govt. of India.