Description

REC Limited, an Indian public financial institution, is dedicated to providing comprehensive financial assistance for crucial power sector initiatives across the nation, encompassing generation, transmission, and distribution projects. Its core offerings include a spectrum of loan products, from short-term to medium- and long-term financing options. Beyond its financing activities, REC plays a pivotal role as a nodal agency, overseeing the implementation of several significant government programs. These include initiatives like the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (focused on universal household electrification), the Deen Dayal Upadhyaya Gram Jyoti Yojana, the National Electricity Fund, the Outage Management System, and the 11kv Rural Feeder Monitoring Scheme. Furthermore, REC acts as the designated bid process coordinator for competitively selecting transmission service providers through tariff-based bidding for both independent inter-state and intra-state transmission ventures. The company also extends its expertise through implementation and consultancy services within the power domain. Its clientele encompasses a broad range, serving both central and state government-owned power utilities, as well as private sector players. Established in 1969, REC is headquartered in Gurugram, India. The company underwent a name change in October 2018, transitioning from its original identity as Rural Electrification Corporation Limited. Currently, REC Limited operates as a subsidiary of Power Finance Corporation Limited.