Gurugram : REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, through it’s CSR arm REC Foundation has partnered with the Unit of Science and Educational Development (UNISED) to support the education of ~75,500 children in Siddharthnagar district, Uttar Pradesh. Under its Corporate Social Responsibility (CSR) initiative, REC has committed financial assistance of Rs 9.91 crore towards this noble cause. 

The Memorandum of Agreement (MoA) between the REC Foundation and UNISED was signed during a ceremony held in New Delhi. The agreement was finalized by Mr. Bhupesh Chandolia, Head of CSR at REC Foundation, and Ms. Rashmi Kumari, Assistant Programme Director at UNISED, solidifying their commitment to improving educational opportunities for underprivileged children. 

UNISED, with its nationwide presence, is dedicated to revolutionizing education through innovative learning systems. As part of this collaboration, UNISED will implement solar energy-operated smart classes and establish joyful learning resource labs in government schools across Siddharthnagar district. This initiative aims to provide students with access to modern educational tools and resources, empowering them to excel academically and creatively. 

Recently, REC Foundation, has demonstrated unwavering support for the education of 12,500 children of ex-servicemen, making a contribution of Rs 15 Crores to the Armed Forces Flag Day Fund. 

About REC Limited – 

About REC Limited: REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), 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, Pumped Storage projects, Green Hydrogen, Green Ammonia projects etc. Recently, REC 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 Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a 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 Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023. 

Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.