52nd Foundation Day: REC gets a new corporate office inaugurated by RK Singh

Union Minister RK Singh inaugurated REC's new corporate office in Gurugram on its 52nd foundation day, also released a report on Key Regulatory Parameters of Power Utilities
52nd Foundation Day: REC gets a new corporate office inaugurated by RK Singh

New Delhi: Union Minister (Power, New & Renewable Energy) RK Singh on Sunday inaugurated the REC Limited's new State-of-the-art futuristic Corporate Office at Gurugram. The occasion was the 52nd Foundation Day of REC Limited. REC was founded on July 25, 1969, with the initial mandate to help State Electricity Boards energise pump-sets across the country to boost agriculture and overcome the impact of three successive years of deficient monsoons that crippled India then.

Union Minister of State for Power and Heavy Industries Krishan Pal Gurjar, Secretary (Power) Alok Kumar (IAS), CMD – REC Limited Sanjay Malhotra (IAS), and key officials of the Ministry of Power and REC were present on the occasion.

REC's new corporate office is a net-zero building powered by its own 1MW rooftop solar plant. The new building has also been awarded by the GRIHA summit (Green Rating for Integrated Habitat Assessment) for Integrated Water Management and Energy Management.

Speaking on the occasion, Union Minister Singh congratulated the Power PSU and said, "REC recently completed the task of connecting every village and hamlet in record time, and of transforming the power sector." He also said that it has been a glorious journey that REC can be proud of.

On the occasion, Singh also released a report on Key Regulatory Parameters of Power Utilities. The report captures key regulatory information of DISCOMs apart from the 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 policymakers 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.

Praising the initiatives taken by REC MoS Power Krishan Pal Gurjar said, "REC has been doing the essential work of financing the development of the distribution, transmission, generation and renewable energy sectors".

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.

The Secretary (Power) remarked, "REC is moving to a new building. This change should mark a new era for REC."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PSU Watch