New Delhi – REC Limited, a Maharatna CPSU under the Ministry of Power and a leading NBFC, has been conferred with the prestigious “Nodal Agency of the Year” award at the Bharat Electricity – Powering India Awards 2024. This esteemed recognition is a testament to REC’s innovative initiatives and leadership in the energy sector, driving significant progress in India’s power infrastructure.
The award was presented during the highly anticipated PowerGen India & Indian Utility Week 2024, a premier event that brings together industry leaders, policymakers, and experts in the energy sector. Shri Prabhat Kumar Singh, Executive Director (RDSS), accepted the award on behalf of REC Limited, reinforcing the company’s commitment to excellence and its role as a key player in India’s sustainable energy journey.
REC Limited has played a pivotal role in the implementation of key government programs aimed at modernizing the country’s power sector and ensuring access to electricity in even the most remote areas. Through its various initiatives, including the Revamped Distribution Sector Scheme (RDSS), REC has contributed significantly to the nation’s energy goals.
The Bharat Electricity – Powering India Awards recognizes exemplary performance and innovation in the Indian power and utilities sector, honouring organizations and individuals who have made outstanding contributions to the industry.
About REC LIMITED –
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), DeenDayalUpadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya GharMuft Bijli Yojna from Central Government. The loan book of REC stands at ₹ 5.30 lakh crore and Net Worth at Rs. ₹ 72,351 crore as on 30th June, 2024.
