REC’s Executive Director S. Jayanthi, who led the PMSGY team, urged national vendors to deploy adequate manpower and brand owners to expand their channel partner networks across the state to facilitate faster installations. Discussions also focused on increasing vendor participation, ensuring quality of rooftop solar systems, vendor rating, training and capacity building. REC assured stakeholders of necessary support to address implementation challenges faced by vendors, consumers and DISCOMs and to further accelerate rooftop solar adoption under the scheme.

Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL), a 50:50 Joint Venture between NTPC Limited & Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for total loan amount of Rs. 26,850 Crore for the establishment of 2400 MW Meja TPP Stage-II Ultra-Super Critical units of 800 MW under Stage-Il (3×800 MW) with Air Cooled Condenser (ACC) system at Meja Tehsil, Prayagraj District, Uttar Pradesh with an estimated project completion cost of Rs. 38,357.81 crore.  REC is the lead financer of the project and the loan has been funded in 50:50 by REC and PFC.

The Loan Documents were signed at Prayagraj, Uttar Pradesh by Mr. Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL , Mr. Shambhu Shankar

Gupta, Chief General Manager, REC Regional Office Lucknow and Ms Shelly Gupta, GM, PFC, in the presence of Mr Angshu Barua, Chief Financial Officer, MUNPL; Mr. H. K. Das, Executive Director, PFC  and Mr. D. B. Londhe, Executive Director, REC.

The proposed 3×800 MW Meja Super Thermal Power Project (Stage-II) brings wide-ranging benefits in a single sweep. It will strengthen Uttar Pradesh’s energy

security, ensures reliable supply for homes, farms, and industries and supports the state’s ambitious growth targets. The advanced technology reduces coal consumption and emissions compared to older plants, making it more efficient and environmentally responsible. It will generate thousands of jobs during construction and operation, boost local infrastructure in Prayagraj’s Meja tehsil, and provide stable power for industrial corridors, manufacturing clusters, and urban expansion.

The Loan Documents were signed at Prayagraj, Uttar Pradesh by Mr. Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL , Mr. Shambhu Shankar Gupta, Chief General Manager, REC Regional Office Lucknow and Ms Shelly Gupta, GM, PFC, in the presence of Mr Angshu Barua, Chief Financial Officer, MUNPL; Mr. H. K. Das, Executive Director, PFC  and Mr. D. B. Londhe, Executive Director, REC.

The proposed 3×800 MW Meja Super Thermal Power Project (Stage-II) brings wide-ranging benefits in a single sweep. It will strengthen Uttar Pradesh’s energy security, ensures reliable supply for homes, farms, and industries and supports the state’s ambitious growth targets. The advanced technology reduces coal consumption and emissions compared to older plants, making it more efficient and environmentally responsible. It will generate thousands of jobs during construction and operation, boost local infrastructure in Prayagraj’s Meja tehsil, and provide stable power for industrial corridors, manufacturing clusters, and urban expansion.

The SPVs handed over were Bhadla Ramgarh Power Transmission Limited to M/s Power Grid Corporation of India Limited and Shongtong Power Transmission Limited to M/s Terralight Solar Energy Tinwari Private Limited. Both successful bidders were selected through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL as the Bid Process Coordinator, and the projects will be developed on a Build, Own, Operate and Transfer (BOOT) basis.

Bhadla Ramgarh Power Transmission Limited pertains to the inter-state transmission project “Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)”. The SPV was handed over by Shri Ratnesh Kumar, GM (Engg.), RECPDCL, to Mr. Arup Samanta, Company Secretary, Power Grid Corporation of India Limited, in the presence of Shri Rajkumar Sonkar, HoD (CS), RECPDCL, and other senior officials from RECPDCL, Power Grid Corporation of India Limited and Central Transmission Utility of India Limited.

The Bhadla Ramgarh project broadly envisages augmentation of the 400/220 kV Bhadla-III Pooling Station, 765/400 kV Ramgarh Pooling Station and 765/400 kV Kanpur Pooling Station, along with associated works. The project is scheduled for implementation by 20 January 2029 at an estimated cost of Rs. 1,035 crore.

Shongtong Power Transmission Limited pertains to the inter-state transmission project “Transmission system for evacuation of power from Shongtong Karcham HEP (450 MW) and Tidong HEP (150 MW)”. The SPV was handed over by Shri Rajkumar Sonkar, HoD (CS), RECPDCL, to Mr. Puneet Singh Chauhan, Sr. VP, Head Commercial & BD, Terralight Solar Energy Tinwari Private Limited, in the presence of Shri Ratnesh Kumar, GM (Engg.), RECPDCL, and other senior officials from RECPDCL, Terralight Solar Energy Tinwari Private Limited and Central Transmission Utility of India Limited.

The Shongtong project broadly envisages establishment of a 400/220 kV GIS Jhangi Pooling Station in Himachal Pradesh, 400 kV Jhangi PS to Wangtoo double-circuit line of 50 kms, 400 kV Panchkula to Wangtoo line of 175 kms, along with other associated works. The project is scheduled for implementation within 30 months at an estimated cost of Rs. 2,286 crore.

Operational and Financial Highlights: Q1 FY27 vs Q4 FY26

–   Net interest income: ₹5,212 crore Vs ₹4,961 crore up by 5%

–   Net Profit: ₹4,149 crore Vs ₹3,362 crore, up by 23%

Despite a dynamic operating environment, REC sustained a healthy NIM of 3.34%, reflecting the strength of its lending portfolio and disciplined financial management. Consequently, the Company delivered an annualised EPS of ₹63.04 per share for the quarter ended June 30, 2026, underscoring its robust earnings performance.

REC’s standalone loan book stood at ₹5.90 lakh crore as on June 30, 2026 which is the largest for any CPSU-NBFC in India, demonstrating the strength and stability of its lending operation. Aided by growth in profits, the Net Worth has grown by 15% on Y-o-Y basis to ₹91,836 crore as on June 30, 2026.

The renewable energy portfolio continued to witness robust traction, growing to ₹78,596 crore, constituting 13.32% of the overall loan composition, reinforcing REC’s commitment to fostering sustainable infrastructure development and accelerating the growth of green energy in India. The infrastructure and logistic portfolio has grown to ₹59,289 crore, which is over 10% of the overall loan assets.

Driven by sustained initiatives to improve asset quality, the Company has reduced its Stage-3 loan asset to the total loan portfolio ratio to near-zero levels i.e., 0.11%.

Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at comfortable 23.06% as at June 30, 2026 against the regulatory minimum of 15% as mandated by RBI.

In line with its consistent dividend distribution track record and commitment to enhancing shareholder returns, the Board of Directors of the Company has declared the First Interim Dividend of ₹4.25 per equity share (face value ₹10 each).

The strengthening fundamentals of the Indian power sector have contributed to the improved financial position of power utilities, resulting in stronger overall credit profiles and consequently lower provisioning requirements. Reflecting its customer-centric approach, REC proactively shared these benefits with borrowers by rationalizing lending rates resulting in yield of 9.55% in Q1-FY 2026-27.

The Company was recognized with the ‘NBFC of the Year’ Award at the 3rd Annual Bharat NBFC & FinTech Summit & Awards 2026 and the ‘AI & GenAI Adoption Excellence Award’ at the 2nd Bharat PSU Manthan & Excellence Awards 2026, underscoring its strong business performance, digital innovation, and leadership in leveraging advanced technologies to drive operational excellence and enhance customer experience.

REC Limited is strategically broadening its business footprint through targeted investments in conventional power, renewal energy and infrastructure & logistics development in the country apart from being a strategic partner to government of India in implementing the government programs, policy and reforms in the country and steadily fostering long term growth.

Welcoming the distinguished gathering, REC Limited Chairman and Managing Director Jitendra Srivastava highlighted the organization’s historic evolution over the past 57 years. He detailed REC’s successful transformation from a dedicated rural electrification financing body into a premier national infrastructure financing institution. Credit was attributed to the collective efforts of employees, stakeholders, and partners, with Srivastava emphasizing that REC’s ongoing growth stems from its ability to adapt to shifting national priorities while remaining aligned with sustainable development goals.

A central focus of the celebration was the employee recognition ceremony, which honored outstanding individual performances across the organization. Those awarded the Employee of the Year title were acknowledged for their exceptional dedication, professionalism, and contributions to organizational growth. Management noted that the awards went beyond individual recognition, serving to reinforce a corporate culture anchored in teamwork, integrity, and operational excellence, while honoring the workforce as the company’s greatest strategic asset.

Having financed critical power generation, transmission, distribution, and rural electrification projects for over five decades, REC is now positioning itself for future clean energy transitions. As India’s energy landscape expands into renewables, green infrastructure, and digital advancements, REC continues to adapt its financial offerings to support sustainable development. The 57th Foundation Day closed with congratulations to all award recipients as the REC family renewed its commitment to powering the nation’s future.

The MoUs were signed during the Destination Tripura Business Conclave 2026, reflecting REC’s continued commitment to enabling sustainable development and strengthening power infrastructure in the Northeast.

Under the first MoU, REC Limited has partnered with the Tripura Renewable Energy Development Agency (TREDA), through the Department of Power, Government of Tripura, to provide financial assistance for renewable energy projects worth up to ₹5,000 crore. The agreement was signed by Sh. Subhendu Roy, Chief Program Manager, REC Regional Office, Guwahati, and Sh. D. S. Das, Director General (In-charge), TREDA.

As the nodal agency for renewable energy development in Tripura, TREDA will facilitate the implementation of renewable power projects across the state, while REC Limited will provide financial support to enable investments in the green energy sector. The partnership is expected to accelerate clean energy adoption, unlock Tripura’s renewable energy potential, and contribute significantly to the region’s sustainable development.

Further strengthening its partnership with the state, REC Limited also signed an MoU with the Department of Power, Government of Tripura, through the Tripura State Electricity Corporation Limited (TSECL), to support power sector projects worth ₹10,000 crore.

The signing ceremony was graced by Sh. Ratan Lal Nath, Hon’ble Minister of Power, Government of Tripura. The MoU was signed by Sh. Subhendu Roy, Chief Program Manager, REC Regional Office, Guwahati, and Sh. Biswajit Basu, Managing Director, TSECL.

The ₹10,000 crore partnership aims to facilitate financing for key power sector initiatives in the state, contributing to the expansion and modernization of Tripura’s power infrastructure while ensuring reliable and sustainable electricity access for its citizens.

A Memorandum of Agreement (MoA) for the project was signed on July 2, 2026, at REC Limited’s Corporate Office in Gurugram between Shri L. B. Nautiyal, HoD (CSR), REC Limited, and Shri B. Vinod Kumar, Director, Indo German Institute of Advanced Technology (IGIAT). The signing ceremony was held in the presence of Shri Arun Kumar Tyagi, Executive Director (CSR), REC Limited, and other officials from REC Limited and IGIAT.

Through its CSR initiatives, REC Limited continues to make meaningful investments in education, healthcare, skill development, environmental sustainability, and community development, contributing to inclusive and sustainable socio-economic growth across the country.