REC Limited has signed a Memorandum of Understanding (MoU) with the Electrical Research and Development Association (ERDA) to strengthen quality testing and assurance systems for materials used under the Revamped Distribution Sector Scheme (RDSS). The agreement was signed at the SCOPE Complex in New Delhi. The MoU was signed by Prabhat Kumar Singh, Executive Director…
REC Limited and Power Finance Corporation Limited (PFC) have announced that their respective Boards of Directors have approved the proposal for the merger of REC into PFC, subject to the approval of the Hon’ble President of India in accordance with their Articles of Association. In separate exchange filings, both state-owned non-banking financial companies (NBFCs) said…
Power Finance Corporation (PFC) has announced its audited financial results for FY2025-26, reporting growth across its standalone and consolidated loan portfolios while maintaining stable asset quality. On a standalone basis, PFC reported profit before tax of Rs 24,774 crore for FY2025-26. Loan assets outstanding stood at Rs 5,74,018 crore, while total assets reached Rs 6,18,515…
PFC Consulting Limited (PFCCL), a wholly owned subsidiary of state-owned Power Finance Corporation Limited, and REC Limited have incorporated new special purpose vehicles (SPVs) for transmission projects in Maharashtra, Rajasthan, and Gujarat. The developments were disclosed through regulatory filings dated May 8-9, 2026. PFCCL incorporated two wholly owned subsidiaries, Western Ghats PSP Transmission Limited and…
REC Limited has appointed Shri Rajesh Kumar Agarwal, Director (Finance) at Power Finance Corporation Limited (PFC), as PFC’s Nominee Director on its Board with effect from May 1, 2026. The appointment was approved by the Ministry of Power, Government of India, through an Office Order dated May 6, 2026. The induction has been made under…
REC Limited has appointed Shri Rajesh Kumar as Director (Finance) and Chief Financial Officer (CFO), effective April 2, 2026. The company’s Board of Directors approved the appointment at its meeting held on April 15, 2026. The move follows an intimation submitted by REC to the stock exchanges on April 2, 2026. Shri Rajesh Kumar’s elevation…
REC Limited has appointed Rajiv Ranjan Jha as the Nominee Director of Power Finance Corporation Limited (PFC) on its Board, with effect from April 6, 2026. The appointment follows an order issued by the Ministry of Power. The approval has been granted under Clause 5.1 of the Share Purchase Agreement signed on March 20, 2019,…
REC Limited has incorporated Vizag Power Transmission Limited as a wholly owned subsidiary through REC Power Development and Consultancy Limited (RECPDCL). The special purpose vehicle was established on February 16, 2026 for the project titled “Transmission system for proposed Green Hydrogen / Green Ammonia projects in Vizag area, Andhra Pradesh (Phase-I).” The incorporation follows a…
Rajgarh III Power Transmission Limited, a project-specific special purpose vehicle (SPV), has been struck off the Register of Companies, effective January 20, 2026. The entity was a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which in turn is a subsidiary of REC Limited. The dissolution follows a decision announced by REC…
REC Power Development and Consultancy Limited (RECPDCL) has transferred its entire shareholding in two project-specific special purpose vehicles (SPVs), Velgaon Power Transmission Limited and Jejuri Hinjewadi Power Transmission Limited, to successful bidders selected through a tariff-based competitive bidding (TBCB) process. The divestments were completed through separate Share Purchase Agreements signed on 9 January 2026. Jejuri…