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

REC Limited signed MoU with PFC as per the DPE Performance Evaluation System for FYs 2023-24 and 2024-25 for CPSEs on Friday 08th September 2023.

CMD, REC Shri Vivek Kumar Dewangansigned the MoU for the FYs 2023-24 and 2024-25with CMD, PFC Smt. Parminder Chopra in the presence of Directors and other senior officials from both REC & PFC.

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As per the MoU, REC is targeting for Revenue from Operations of Rs. 46,935 Cr in FY 2023-24 and Rs 56,322 Cr in FY 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.

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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.

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