REC Ltd, NIIFL collaborate on funding solutions for renewable energy, other infra projects – EQ
In Short : REC Ltd (Rural Electrification Corporation Limited) and NIIFL (National Investment and Infrastructure Fund Limited) have joined forces to collaborate on funding solutions for various projects, including those in the renewable energy sector. This partnership aims to support and finance critical infrastructure projects, emphasizing a collective effort towards sustainable development in India.
In Detail : New Delhi : REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Financial Company (NBFC), has entered into a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL). The collaboration aims to explore funding solutions for Renewable Energy Projects and large-scale infrastructure projects in India.
Shri Vivek Kumar Dewangan, CMD, REC Limited, highlighted the commitment to fueling India’s progress through strategic financial partnerships. He emphasized REC’s dedication to financing key infrastructure projects in line with the shared vision for a robust and interconnected future.
Shri Prasad Gadkari, Executive Director & Chief Strategy Officer, NIIFL, expressed how the collaboration aligns perfectly with NIIF’s broader strategy to enhance financing and attract private capital into the infrastructure sector. The partnership aims to develop innovative financial solutions supporting major infrastructure projects.
The MoU was signed by Shri Daljeet Singh Khatri, Executive Director (Finance) at REC, and Shri Prasad Gadkari, Executive Director & Chief Strategy Officer at NIIFL. The signing ceremony took place in the presence of CMD, REC, Sh. Vivek Kumar Dewangan, and CEO and MD, NIIFL, Shri Rajiv Dhar.
Other officials present at the occasion included Director (Finance), REC, Shri Ajoy Choudhury; Director (Projects), REC, Shri V K Singh; Sr. Principal – Strategic Initiatives and Policy Advisory, NIIFL, Shri K Mukundan, and Executive Director, REC, Shri Saurabh Rastogi.
REC Limited, registered with RBI as a Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC), plays a vital role in financing the Power-Infrastructure sector, including Generation, Transmission, Distribution, Renewable Energy, and new technologies. The company has recently diversified into the Non-Power Infrastructure sector, covering various domains like Roads & Expressways, Metro Rail, Airports, IT Communication, and Social and Commercial Infrastructure. REC Ltd. continues to be a key player in the flagship schemes of the Government for the power sector.
