REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has signed a Memorandum of Agreement (MOA) with THDC India Limited (THDCIL) under its Corporate Social Responsibility (CSR) initiative. REC has committed financial assistance of Rs. 3.97 crore for the development of an Olympic-size swimming pool at the THDCIL Water Sports High Performance Academy of Canoeing & Kayaking in Koteshwar, Tehri (Uttarakhand).
The agreement was signed on friday between Shri Pradeep Fellows, Executive Director, CSR, REC, and Shri Amardeep, General Manager, THDCIL and President, SEWA THDC. The ceremony took place in the presence of Shri Vivek Kumar Dewangan, Chairman and Managing Director, REC Limited; Shri Harsh Baweja, Director (Finance), REC, and Shri Shallinder Singh, Director (Personnel), THDCIL.
The upcoming swimming pool facility aims to nurture and train national-level athletes for international competitions in canoeing and kayaking, contributing to India’s recognition in water sports globally.
This initiative aligns with REC’s commitment to fostering sports development in India and empowering athletes to achieve excellence on international platforms.
This collaboration marks a significant step in REC’s ongoing efforts to enhance sports infrastructure in India, ensuring the holistic development of sports talent. Through its CSR initiatives, REC continues to support nationally recognized sports and pave the way for Indian athletes to achieve global accolades.
REC Foundation has supported over 400 projects in healthcare, sanitation, clean water access, education and skill development, women empowerment, sports and environmental sustainability. With over Rs. 1,300 Crore disbursed in CSR funds, REC’s cumulative commitment to CSR activities exceeds Rs. 2,000 Crore.
About REC LIMITED:
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹5.46 lakh crore and Net Worth at Rs. ₹72,893 crores as on 30th September, 2024.
