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REC Signs MoU With PFC For FYs 2023-24 And 2024-25

New Delhi:

REC Restricted signed an MoU with PFC as per the DPE Efficiency Analysis System for FYs 2023-24 and 2024-25 for CPSEs on Friday.

REC CMD Vivek Kumar Dewangan signed the MoU for FYs 2023-24 and 2024-25 with PFC CMD Parminder Chopra within the presence of administrators and different senior officers from each REC and PFC, a press release stated.

As per the MoU, REC is focusing on income from operations of Rs 46,935 crore in FY 2023-24 and Rs 56,322 crore in FY 2024-25.

REC Restricted, a Maharatna CPSE, is an NBFC specializing in energy sector financing and improvement throughout India.

Established in 1969, REC Ltd. has accomplished over 54 years.

It offers monetary help to finish energy sector worth chain; for varied kinds of tasks together with era, transmission and distribution, and renewable vitality.

Lately, REC has additionally diversified into non-power infrastructure and logistics sector to cowl areas equivalent to airports, metro, railways, ports, bridges, and many others.

PFC, a Maharatna CPSE, has a majority shareholding in REC. Each REC and PFC are below the executive management of the Ministry of Energy.

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