New Delhi: REC Limited, a Maharatna Central Public Sector Enterprise, and National Investment and Infrastructure Fund Limited (NIIFL) have inked a Memorandum of Understanding (MoU) to collaborate on financing solutions for Renewable Energy Projects and large-scale infrastructure initiatives in India.

Speaking on the agreement, REC’s CMD, Vivek Kumar Dewangan, emphasized the commitment to fueling India’s progress through strategic financial partnerships. He stated, “Our commitment to financing key infrastructure projects echoes our shared vision for a robust and interconnected future.”

Prasad Gadkari, Executive Director & Chief Strategy Officer at NIIFL, highlighted how the collaboration aligns with NIIF’s strategy to enhance financing and attract private capital into the infrastructure sector. He expressed, “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.”

The MoU was formally signed by Daljeet Singh Khatri, Executive Director (Finance) at REC, and Shri Prasad Gadkari, Executive Director & Chief Strategy Officer at NIIFL, in the presence of REC’s CMD, Vivek Kumar Dewangan, and NIIFL’s CEO and MD, Rajiv Dhar. Other key figures present at the occasion included Ajoy Choudhury (Director, Finance – REC), V K Singh (Director, Projects – REC), K Mukundan (Sr. Principal – Strategic Initiatives and Policy Advisory – NIIFL), and Saurabh Rastogi (Executive Director – REC).

This story has been sourced from PIB.