REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has been honoured with the 'Innovative Technology Development Award' at the 'Building India 2047:Technology for Better Tomorrow', an IIT Madras CSR Summit.
The award was conferred in recognition of REC's CSR initiative of installation of 2 MW Roof Top Solar plant in IIT Madras. The solar plant generates around 3.15 million units of clean energy every year and thus helping IIT Madras reduce carbon footprint.
Smt Taruna Gupta, Executive Director (CSR) and Smt Thara Ramesh, CPM, REC, Regional Office Chennai, received the award on behalf of REC. The ceremony, was graced by the presence of Dr. Palanivel Thiaga Rajan, Hon'ble Minister of IT and Digital Services of Tamil Nadu, and Prof. V. Kamakoti, Director, IIT Madras who applauded REC's commitment to sustainable development goals.
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REC Limited, through its CSR arm, REC Foundation, maintains a strong commitment to CSR and prioritizes projects that have a profound impact on society, with an impetus on sustainable development goals and national priorities.By spearheading initiatives that harness renewable energy sources, REC continues to pave the way for a greener, more environmentally conscious future.
REC Limited has been recognized with several prestigious awards for CSR works, including the Global CSR Leadership Awards in 2023, the PSE Excellence Award for CSR in 2023, etc.
About REC Limited –
About REC Limited: REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), 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, Pumped Storage projects, Green Hydrogen, Green Ammonia projects etc. Recently, REC 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 Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya 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 Pradhan Mantri Suryodaya Yojana from Central Government. The loan book of REC stands at Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023.
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For further details, contact:
Business Development and Marketing (BDM) Division
(Corporate Communications cell)
REC Limited
Website: https://www.recindia.nic.in/
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Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.
