REC Limited has signed a Memorandum of Understanding (MoU) with the Central Power Research Institute (CPRI) to strengthen quality assurance and testing mechanisms for materials used under the Revamped Distribution Sector Scheme (RDSS). The agreement seeks to establish a framework for third-party quality assessment of materials deployed across RDSS projects and provide technical support for…
REC Limited has informed the stock exchanges that its wholly owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), has incorporated a new wholly owned subsidiary, Nawada Durgapur Power Transmission Limited, for the implementation of an interstate transmission project. The incorporation follows the Gazette Notification issued by the Ministry of Power on March 24, 2026,…
In a historic development for India’s power sector, the boards of Power Finance Corporation Limited (PFC) and REC Limited have approved a Scheme of Merger under Sections 230 to 232 of the Companies Act, 2013, for the amalgamation of REC into PFC. According to the companies, the merger will create a government-owned financing entity with…
Power Finance Corporation Limited (PFC) and REC Limited have received the approval of the Hon’ble President of India for the proposed merger of REC into PFC, according to regulatory filings made by both companies. The Ministry of Power, through a letter dated June 10, 2026, communicated the approval of the competent authority for the proposed…
The Central Electricity Regulatory Commission (CERC) has finalised the buyout price mechanism as an alternative compliance route for Renewable Consumption Obligations (RCO), fixing the rate at Rs 347 per MWh for fiscal years 2024-25 and 2025-26. The order, issued on February 18, 2026, follows a suo-motu petition and a detailed stakeholder consultation process. The Ministry…
Power Finance Corporation Limited (PFC) has initiated a major restructuring following the Union Budget 2026–27, with its Board approving in-principle a merger with its subsidiary, REC Limited. The Board has also approved the withdrawal of PFC’s nominee director from the board of PTC India Limited, along with the surrender of all related promoter rights. In…
REC Limited has promoted Shri Hemant Kumar to Executive Director with effect from 02 December 2025. The company announced the elevation in a filing to the stock exchanges. Shri Kumar previously served as Chief General Manager of Finance and Accounts. He holds a Master’s degree in Finance and a Bachelor’s degree in Science with Physics…
Power Finance Corporation Ltd. (PFC) and REC Limited have announced the formation of new special purpose vehicles (SPVs) to advance key interstate power transmission projects. PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, has incorporated Alibag Power Transmission Limited to manage preliminary work for the “Establishment of 765/400/220 kV AIS Dolvi (Dist. Raigad)”…
REC Limited and Power Finance Corporation Limited (PFC) have announced the formation of new wholly owned subsidiaries to serve as project vehicles for upcoming power transmission schemes in Karnataka, Rajasthan, and Maharashtra. REC has incorporated Kempegowda Power Transmission Limited and Barmer HVDC Power Transmission Limited as subsidiaries of REC Power Development and Consultancy Limited (RECPDCL),…
REC Limited and Power Finance Corporation (PFC) have both posted significant profit growth for the first quarter of FY26. REC reported its highest-ever quarterly net profit of Rs 4,451 crore, marking a 29 per cent rise compared to the previous year. Disbursements for the quarter reached Rs 59,508 crore, a 36 per cent increase year-on-year….