Indian Bureaucracy, New Delhi, 13th December 2024| REC Limited, a Maharatna CPSE under the Ministry of Power, signed a Memorandum of Agreement (MoA) with Tehri Hydro Development Corporation Limited (THDCIL) to provide ₹3.97 crore under its Corporate Social Responsibility (CSR) initiative. The funding will support the construction of an Olympic-size swimming pool at the THDCIL Water Sports High Performance Academy in Koteshwar, Tehri, Uttarakhand. The facility will focus on training athletes for national and international water sports competitions, including canoeing and kayaking. At the 2023 Asian Games in Hangzhou, China, India secured a bronze medal in the men’s double 1000m sprint canoeing event, highlighting the potential for further achievements in this field.
The Rural Electrification Corporation (REC), is led by Shri Vivek Kumar Dewangan, an Indian Administrative Officers of 1993 Batch, and is actively advancing sports in India through its CSR initiatives, he believes that infrastructures empowers athletes and enabling them to excel on international stages.
The agreement was signed between Shri Pradeep Fellows, Executive Director (CSR) at REC, and Shri Amardeep, General Manager at THDCIL and President of SEWA THDC. The event was attended by Shri Vivek Kumar Dewangan (IAS), CMD of REC Limited; Shri Harsh Baweja, Director (Finance) at REC; and Shri Shallinder Singh, Director (Personnel) at THDCIL.
The Rural Electrification Corporation (REC) Foundation has successfully supported over 400 projects across healthcare, sanitation, clean water access, education and skill development, women empowerment, sports, and environmental sustainability initiatives. Notably, a substantial amount of corporate social responsibility (CSR) funds, exceeding Rs. 1,300 crore, has been disbursed by REC. Consequently, the foundation’s cumulative commitment to CSR activities exceeds Rs. 2,000 crore.
REC Limited is a ‘Maharatna’ company under the Ministry of Power’s is a registered as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Financing Company (IFC) with RBI. It finances the Power-Infrastructure sector, including Generation, Transmission, Distribution, Renewable Energy, and new technologies. Recently, REC has diversified into the Non-Power Infrastructure sector, focusing on Roads & Expressways, Metro Rail, and IT Communication. As of 30th September, 2024, REC’s loan book stands at ₹5.46 lakh crore, with a Net Worth of ₹72,893 crores.
REC provides loans to State, Central, and Private Companies for infrastructure asset creation. It plays a key strategic role in Government flagship schemes, including Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA) and Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY). REC is also the nodal agency for Revamped Distribution Sector Scheme (RDSS) and has been entrusted with responsibility for PM Surya Ghar Muft Bijli Yojna.
