REC Limited, a prominent Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Finance Company, has recently joined hands with the Unit of Science and Educational Development (UNISED) to bolster educational initiatives in Siddharthnagar district, Uttar Pradesh. Through its Corporate Social Responsibility arm, REC Foundation, REC has pledged a significant financial assistance of Rs. 9.91 crores for the education of approximately 75,500 children in the district.
Signing of the Memorandum of Agreement (MoA)
- Formalization of collaboration through MoA between REC Foundation and UNISED occurred in a ceremony in New Delhi.
- Mr. Bhupesh Chandolia (Head of CSR at REC Foundation) and Ms. Rashmi Kumari (Assistant Programme Director at UNISED) finalized the agreement, highlighting UNISED’s dedication to improving education for underprivileged children.
Empowering Education through Innovation
- UNISED, recognized for nationwide educational innovation, will implement solar-powered smart classrooms and joyful learning labs in Siddharthnagar district.
- REC’s support for this initiative seeks to improve educational infrastructure and opportunities in government schools.
- The initiative aims to grant students access to modern educational resources, nurturing academic excellence and creativity.
REC Foundation’s Ongoing Commitment to Education
- Collaboration highlights REC Foundation’s steadfast commitment to education promotion and community empowerment.
- REC Foundation demonstrated support by contributing Rs. 15 crores to the Armed Forces Flag Day Fund, aiding 12,500 children of ex-servicemen.
About REC Limited
- REC Limited, a ‘Maharatna’ PSU under the Ministry of Power, functions as an NBFC and IFC accredited by the RBI.
- REC finances a broad spectrum of power-infrastructure domains, including Generation, Transmission, Distribution, Renewable Energy, and innovative sectors like Electric Vehicles, Battery Storage, and Green Hydrogen projects.
- REC’s portfolio extends to emerging technologies such as Pumped Storage Projects and Green Ammonia projects, reflecting its comprehensive approach to infrastructure financing.
Diversification into Non-Power Infrastructure
- REC has expanded beyond the power sector into Non-Power Infrastructure, encompassing Roads & Expressways, Metro Rail, Airports, IT Communication, and more.
- Its diversified portfolio includes Social and Commercial Infrastructure, Ports, and Electro-Mechanical works in sectors like Steel and Refinery.
Key Strategic Role in Government Schemes
- REC Limited is a key player in implementing Government’s flagship schemes for the power sector.
- As the nodal agency for schemes like Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), and National Electricity Fund (NEF) Scheme, REC has enhanced last-mile distribution, village electrification, and household electrification.
- REC is also entrusted with nodal agency duties for Revamped Distribution Sector Scheme (RDSS) in specific States and Union Territories.