REC Limited’s Post

Sh. Vivek Kumar Dewangan, CMD, REC Ltd., addressed the 92nd Annual Meeting of the International Commission on Large Dams (ICOLD) and the International Symposium on ‘Dams for People, Water, Environment, and Development’ at #BharatMandapam today. While outlining his thoughts, Sh. Dewangan stressed the pivotal role that dams have played throughout human civilization. He further elaborated that as India is in the midst of an energy transition, the role of hydropower is much more crucial. To facilitate the development of dams in India, REC has sanctioned Rs. 616 billion dedicatedly for Large Hydro and Pumped Storage Projects in the previous financial year. Two highly insightful publications were released during the event: ‘Dam Development in India from Ancient to Modern Time’ and ‘A Pictorial Display of Dams in India’. #RECLimited #RECNews #RECCorporateUpdate #RECSustainability #RECInfrastructure #ICOLD #DamsForPeople #DamsForDevelopment #LargeDams #HydroPower #WaterManagement #DamDevelopment

At REC, we understand the crucial role our supply chain plays in achieving our sustainability goals. As part of our commitment to responsible business practices, we prioritize working with Micro and Small Enterprises (MSEs) in our procurement processes, fostering the growth of marginal communities and supporting inclusive development. #SocialAspectOfREC #Sustainability #ESGatREC #CircularEconomy #RECIndia #CorporateGovernance #ESGReport #ESGLeadership #RECLimited #NBFC #OperationalExcellence #REC_ESGReport2024

REC Limited has signed MoU with Govt of Rajasthan, Department of Finance during the "Rising Rajasthan Investors meet" today. As per MoU, REC will provide Rs. 50,000 Crore annually (increased from Rs. 20,000 Crore) to finance projects across power and non power infrastructure for a period of six years upto 2030 i.e. total value of MoU is Rs. 3.00 Lac Crore.  The MoU was signed in the presence of Hon'ble Chief Minister, Govt of Rajasthan, Shri Bhajan Lal Sharma; Col Rajyavardhan Rathore, Minister for Industries & commerce, GoR; Sri Sudhansh Pant, Chief Secretary, GoR. The MoU was exchanged by Shri Rahul Dwivedi, ED(PMD and I&L) REC and Shri Debasish Prusty, Secretary to GoR. #RECLimited #RECInfrastructure #RECFinance #RECCorporateUpdate #RisingRajasthan #InfrastructureDevelopment #PowerInfrastructure #NonPowerInfrastructure #EconomicGrowth #RajasthanDevelopment #Investment #InfrastructureFinance #MakeInIndia #IndiaGrowthStory 

Media coverage of the USD 500 Million raised by REC through Fixed Rate Green Dollar Bonds at 4.75%. For full coverage, visit https://lnkd.in/gS83H-GK #RECLtd #RECGreenBonds #RECFinance #RECSustainability #RECCorporateUpdate #GreenBonds #SustainableFinance #ClimateAction #RenewableEnergy #ESGInvesting #GreenInfrastructure #SustainableDevelopment #ClimateResilience #EnergyTransition

REC Ltd. has successfully raised CBDT-notified Zero Coupon Bonds (ZCB) of Rs 5,000 crore at the effective yield of 6.25 % p.a. The REC bonds received tremendous response from the market as they were oversubscribed seven times over the issue size of Rs. 5,000 crore. The bond issuance was rated AAA by top credit rating agencies, including CARE, CRISIL, ICAR, and IRRPL. ZCB are issued at deep discount and are redeemed at face value. Since these ZCBs are CBDT notified, investors are benefitted in the form of lower taxation as redemption of ZCB on maturity is treated as long term capital gain and is accordingly taxed at a much lower rate of 12.5% p.a. The last issuance of CBDT notified ZCB of REC was done in FY 2010-11. Net pay-in of Rs. 2,712.50 crore against the bond issuance shall happen on 3rd September 2024. #RECLtd #RECBonds #RECFinance #RECCorporateUpdate #BondIssuance #ZeroCouponBonds #FinanceNews #IndianEconomy #FinancialMarkets #EconomicGrowth #MarketUpdate #InvestorNews #NBFC

Upholding human rights is integral to our identity as a responsible corporate. Through our comprehensive human rights policies and practices, REC aims to create a positive impact on our employees, customers, suppliers, and the community at large. #SocialAspectOfREC #Sustainability #ESGatREC #CircularEconomy #RECIndia #CorporateGovernance #ESGReport #ESGLeadership #RECLimited #NBFC #OperationalExcellence #REC_ESGReport2024

REC has successfully raised USD 500 million 5-year Green bonds issued off its USD 10 billion Global Medium Term Programme. The bond proceeds will be used to finance Eligible Green Projects, in accordance with REC’s Green Finance Framework as per Green Bond principles of Climate Bond Initiative, London and RBI’s ECB Guidelines, with a second-party opinion from Sustainable Fitch. The 5-year benchmark has a semi-annual coupon rate of 4.75% per annum and matures on 27 September 2029. This was the first USD bond issuance from an Indian PSU in 2024. The final order book was oversubscribed by more than 1.9 times, allowing REC to achieve the tightest spread ever of 127.5 bps over US treasury, by an Indian NBFI for a 5-year USD issuance. This strong demand reflects confidence in REC's robust credit profile and India's commitment to green and sustainable infrastructure development. #RECLtd #RECGreenBonds #RECFinance #RECSustainability #RECCorporateUpdate #GreenBonds #SustainableFinance #ClimateAction #RenewableEnergy #ESGInvesting #GreenInfrastructure #SustainableDevelopment #ClimateResilience #EnergyTransition

Ahead of World Heart Day, REC, in association with Fortis Hospital, Gurugram, conducted an interactive podcast session on ‘Community and Heart Health’ at the REC Corporate Office in Gurugram today. The session was led by Dr. Vinayak Agarwal, Senior Director, Clinical Cardiology and Cardiac Imaging, in conversation with Sh. A.K. Tyagi, ED (HR), and Smt. Monisha Barua, General Manager (HR), REC Ltd. Addressing the queries related to heart health, Dr. Agarwal shared simple tips that one can follow in everyday life to maintain heart health. #RECLimited #WorldHeartDay #HeartHealth #CommunityWellness #RECCares #HealthyLiving #Lifestyle

At REC, we are committed to follow best policies of industry relating to health, safety and well-being of our employees. We prioritize the well-being of our employees by implementing robust safety protocols, conducting regular trainings, and fostering a culture of health & safety awareness. #SocialAspectOfREC #Sustainability #ESGatREC #CircularEconomy #RECIndia #CorporateGovernance #ESGReport #ESGLeadership #RECLimited #NBFC #OperationalExcellence #REC_ESGReport2024

REC recognizes that Human Capital Development is a major pillar for the success of the organization as it influences productivity, retention, and organizational success. By prioritizing human capital development, REC strives to foster a culture of continuous learning, promoting employee engagement, innovation, skill development, and high performance, ensuring long-term success and sustainability. #SocialAspectOfREC #Sustainability #ESGatREC #CircularEconomy #RECIndia #CorporateGovernance #ESGReport #ESGLeadership #RECLimited #NBFC #OperationalExcellence #REC_ESGReport2024