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REC Restricted, a Maharatna Central Public Sector Enterprise underneath the Ministry of Energy and a number one NBFC, has been honoured with the ‘Progressive Know-how Growth Award’ on the ‘Constructing India 2047: Know-how for Higher Tomorrow’, an IIT Madras Company Social Accountability Summit. The award has been conferred in recognition of REC’s CSR initiative of set up of two MW rooftop photo voltaic plant at IIT Madras. The photo voltaic plant generates round 3.15 million models of fresh vitality yearly, thus serving to IIT Madras cut back its carbon footprint.
Govt Director (CSR), Smt. Taruna Gupta and Chief Program Supervisor, REC, Regional Workplace Chennai, Smt. Thara Ramesh, acquired the award on behalf of REC. The ceremony was graced by Minister for IT and Digital Providers of Tamil Nadu, Dr. Palanivel Thiaga Rajan and Director, IIT Madras, Prof. V. Kamakoti who applauded REC’s dedication to sustainable improvement targets.
REC Restricted, via its CSR arm, REC Basis, maintains a robust dedication to CSR and prioritizes initiatives which have a profound affect on society, with an impetus on sustainable improvement targets and nationwide priorities. By spearheading initiatives that harness renewable vitality sources, REC continues to pave the way in which for a greener, extra environmentally acutely aware future.
REC Restricted has been acknowledged for its CSR actions with a number of prestigious awards, together with the International CSR Management Awards in 2023 and the PSE Excellence Award for CSR in 2023.
REC is a ‘Maharatna’ Central Public Sector Enterprise underneath the Ministry of Energy, and is registered with RBI as Non-Banking Finance Firm (NBFC), and Infrastructure Financing Firm (IFC). REC funds all the Energy-Infrastructure sector comprising Era, Transmission, Distribution, Renewable Power and new applied sciences like Electrical Autos, Battery Storage, Pumped Storage Tasks, Inexperienced Hydrogen and Inexperienced Ammonia initiatives. Lately, REC has additionally diversified into the Non-Energy Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Business Infrastructure (Instructional Establishment, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of assorted different sectors like Metal and Refinery.
REC Ltd. offers loans of assorted maturities to State, Central and Personal Corporations for creation of infrastructure property within the nation. REC Ltd. continues to play a key strategic position within the flagship schemes of the Authorities for the facility sector and has been a nodal company for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), Nationwide Electrical energy Fund (NEF) Scheme which resulted in strengthening of last-mile distribution system, 100% village electrification and family electrification within the nation. REC has additionally been made the nodal company for sure States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). The mortgage e-book of REC stands at Rs 4.97 Lakh Crores and Internet Value at Rs. 64,787 crores as on thirty first December, 2023.
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