January 29, 2024: The Rural Electrification Corporation (REC), a state-owned entity, has entered into a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL), as announced in a press release by the ministry of power. The primary objective of this collaborative effort is to devise innovative funding solutions for supporting renewable energy and large-scale infrastructure projects in India.
Daljeet Singh Khatri, executive director (finance) of REC, and Prasad Gadkari, executive director and chief strategy officer of NIIFL, officially signed the MoU. The signing ceremony, attended by Vivek Kumar Dewangan, CMD of REC, and Rajiv Dhar, CEO and MD of NIIFL, marked the commencement of this strategic partnership.
Vivek Kumar Dewangan said, “Empowering India’s growth through strategic financial partnerships, REC remains steadfast in its commitment to fuelling the nation’s progress. Our commitment to financing key infrastructure projects echoes our shared vision for a robust and interconnected future.”
Prasad Gadkari said, “The collaboration with REC aligns perfectly with NIIF’s broader strategy to enhance financing and attract private capital into the infrastructure sector. Through this partnership, we aim to develop innovative financial solutions supporting major infrastructure.”
This collaboration is in line with NIIF’s broader strategy to bolster financing and attract private capital into the infrastructure sector. REC, classified as a Maharatna Central Public Sector Enterprise (CPSE), stands at the forefront of financing projects spanning the power and non-power infrastructure sectors. The entity’s diverse portfolio encompasses initiatives related to generation, distribution, transmission, renewable energy and cutting-edge technologies such as battery storage, electric vehicles, green ammonia and green hydrogen projects.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
Email: [email protected]
Related Posts
Maharashtra to get 10 new airports.
Kolkata city to lower its carbon footprint.
Government allocates Rs 5.97 lakh crores for infra spending in 2018-19.
India is fastest growing large economy globally in CY2023-CY 2024: Report.
IndoSpace signs Rs 2,000 cr MoU with Tamil Nadu govt.
Assocham, Credai sign MoU to drive sustainable development in Indian realty.
