In a significant move towards bolstering financing solutions for Renewable Energy Projects and large-scale infrastructure endeavors in India, REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a prominent Non-Banking Financial Company (NBFC), has entered into a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL).
The collaboration aims to pave the way for innovative financial mechanisms to support key infrastructure projects, aligning with the shared vision of both entities for a robust and interconnected future. Shri Vivek Kumar Dewangan, Chairman and Managing Director (CMD) of REC Limited, emphasized the organization’s unwavering commitment to fueling the nation’s progress and empowering India’s growth through strategic financial partnerships.
Speaking on behalf of NIIFL, Shri Prasad Gadkari, Executive Director and Chief Strategy Officer, highlighted that the partnership with REC is in perfect alignment with NIIF’s broader strategy to enhance financing and attract private capital into the infrastructure sector. The collaborative efforts are poised to play a pivotal role in developing financial solutions that support major infrastructure initiatives.
The MoU was formally signed by Shri Daljeet Singh Khatri, Executive Director (Finance) of REC, and Shri Prasad Gadkari, Executive Director & Chief Strategy Officer of NIIFL. The ceremony, attended by key dignitaries including CMD of REC, Sh. Vivek Kumar Dewangan, and CEO and MD of NIIFL, Shri Rajiv Dhar, marked a significant milestone in the strategic partnership.
Key personnel from both organizations, including Director (Finance) of REC, Shri Ajoy Choudhury; Director (Projects) of REC, Shri V K Singh; Sr. Principal – Strategic Initiatives and Policy Advisory of NIIFL, Shri K Mukundan; and Executive Director of REC, Shri Saurabh Rastogi, were also present during the signing ceremony. The collaboration is poised to contribute significantly to the financing landscape of critical projects driving India’s infrastructure and renewable energy sectors.
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