REC Signs MoU with Power Finance Corporation: Aim For Scaling Revenue Trajectory To New Heights

REC Limited signed an MoU with PFC on Friday, as per the DPE Performance Evaluation System for FY 2023-24 and FY 2024-25 for CPSEs at REC Headquarter, Gurugram.  Shri Vivek Kumar Dewangan, CMD, REC signed the MoU with Smt. Parminder Chopra, CMD, PFC in the presence of Shri Ajoy Choudhury, Director(Finance), REC; Shri V.K. Singh, Director(Projects), REC; Shri Rajiv Ranjan Jha, Director (Projects), PFC; Shri Manoj Sharma, Director (Commercial) and other senior officials from REC & PFC. As per the MoU, REC is committed to improve the revenue from operations aiming a smooth two year trajectory scaling from  Rs. 46,935 Cr in FY 2023-24 to 56322 Cr in 2024-25. 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 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.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.