Vivek Kumar Dewangan, CMD, REC receives ‘Distinguished Fellow’ Award 2024 by Institute of Directors

Gurugram :  Vivek Kumar Dewangan, IAS, CMD, REC Limited received ‘Distinguished Fellow’ Award at the 2024 Director’s Conclave & 34th IOD Annual Day. The Institute of Directors organized this esteemed event to recognize and honor the exemplary leadership and contribution of individuals in the corporate sector.

The ‘Distinguished Fellow’ Award was presented to Sh. Dewangan by the Hon’ble Union Minister of State (I/C) for Law & Justice, and Parliamentary Affairs, Sh. Arjun Ram Meghwal, acknowledging his outstanding dedication and innovative approach towards leading REC Limited to new heights of success.

The award recognises Sh. Dewangan’s visionary leadership towards fostering infrastructure growth and innovation, and promoting all round prosperity. His contributions have further strengthened India’s global position in the energy sector.

Sh. Dewangan said, “I am deeply humbled and honored to receive the Award. This accolade is a reflection of our collective ambition at REC to innovate and lead in the energy sector. It is a moment of pride for all of us, as it acknowledges our unwavering commitment to excellence and sustainability. I accept this award with a promise to continue our journey towards empowering a brighter, greener future for our nation. My sincere thanks to the Institute of Directors for this esteemed recognition.”

Under Sh. Dewangan’s visionary leadership, REC has achieved remarkable milestones and set new benchmarks in the power finance sector. His strategic initiatives and commitment to excellence have significantly contributed to the company’s growth and the nation’s progress in energy sustainability.

REC Limited extends its heartfelt gratitude to the Institute of Directors for this honor and reaffirms its commitment to contributing to the nation’s development under the guidance of Sh. Dewangan.

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 ₹ 5.09 lakh crore and Net Worth at Rs. ₹ 68,783 crore as on 31 March, 2024.