Union Power Minister releases a report on Key Regulatory Parameters of Power Utilities as part of Azadi ka Amrit Mahotsav

New Delhi: On the occasion of 52nd foundation Day of REC Limited today, the Cabinet Minister of Power, New & Renewable Energy,Shri R.K. Singh inaugurated the Corporation’s new State-of-the-art futuristic Corporate Office at Gurugram, Harayana, in the presence of Minister of State for Powerand Heavy Industries Shri Krishan PalGurjar, Secretary Ministry of Power Shri Alok Kumar, CMD – REC Limited Shri Sanjay Malhotra and key officials of the Ministry of Power and REC. REC’s new corporate office, spread over 4.2 acres, is a bioclimatic building boasting of a plaza and a 400-seat auditorium. It is a net-zero building powered by its own 1MW rooftop solar plant, and has been awarded by GRIHA summit (Green Rating for Integrated Habitat Assessment) for Integrated Water Management and Energy Management.

As part of the ongoing AzadikaAmritMahotsav, to celebrate the 75thAnniversary of Indian Independence, the Hon’ble Ministers also released a report on Key Regulatory Parameters of Power Utilities. The report captures key regulatory information of DISCOMs apart from state-owned transmission and generation utilities. It will facilitate meaningful comparison of their performance and bring forth actionable insights for relevant power sector stakeholders, including policy makers and regulators. Benchmarking and comparative assessment of the key regulatory parameters will also provide a comprehensive overview of how the power utilities are faring and the corrective measures required to be undertaken.

Speaking on the occasion, the Union Minister for Power Shri R.K. Singh congratulated REC on its 52nd Foundation Day and said that it has been a glorious journey which REC can be proud of…REC recently completed the task of connecting every village and hamlet in record time, and of transforming the power sector.

The Minister of State for Power Shri Krishan Pal Gurjar said that through its extensive network of 22 offices across India, REC has been doing the essential work of financing the development of the distribution, transmission, generation and renewable energy sectors.

He added that under the DDUGJY scheme, the country has achieved 100% electrification of villages. It was a challenging task – electrifying 2.81 crore households in record time. REC deserves to be congratulated for it.Talking about the report he commented that the Report on Key Regulatory Parameters of Power Utilities released by REC is a unique initiative to provide a comprehensive collection of performance parameters for power utilities and insights for better decision-making.

The event also saw the release of a booklet on the Achievements of the DeenDayalUpadhyaya Gram JyotiYojana (DDUGJY) scheme of the Government of India and a compendium on REC’s CSR initiatives by the dignitaries.

About REC Limited: REC Limited is a Navratna NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years in the area of its operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different type of projects includes Generation, Transmission, Distribution Projects, and Renewable Energy projects.REC’s funding illuminates every fourth bulb in India.