Saturday, May 21, 2022

PFC CMD RS Dhillon gets additional charge as CMD of REC

PFC Ltd's Chairman & Managing Director (CMD) Ravinder Singh Dhillon has given been additional charge as CMD of REC Limited

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New Delhi: Power Finance Corporation (PFC) Ltd’s Chairman & Managing Director (CMD) Ravinder Singh Dhillon has been given additional charge of CMD of REC Limited. He has been given additional charge of the post upon the elevation of SKG Rahate to the post of Secretary of the Ministry of Power, who was also holding the charge of REC Ltd‘s CMD post.

According to an order issued by the Ministry of Power on May 10, Dhillon will look after the work of the CMD of REC Limited with effect from May 10, 2022, in addition to his current responsibilities, for a period of three months or until further orders, whichever is earlier. Accordingly, Dhillon has assumed the additional charge of the post of CMD of REC with effect from May 10, 2022, for a period of three months or until further orders, whichever is earlier. This information has been shared by the REC Ltd in a regulatory filing to the stock exchanges on Wednesday.

“Dhillon is not inter-se related to any other Director of the company. Further, as per declaration given by him, he is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority,” it added.

Dhillon holds BE (Electrical) degree from Thapar Institute of Engineering & Technology and an M.Tech in Power Systems from IIT-Delhi. Currently, Dhillon is serving as the CMD of PFC where he is spearheading the entire operations of PFC and also playing a critical role in the implementation of key power sector initiatives of the government. He has over 36 years of varied experience spread across the entire value chain of the power sector. His diverse work experience covers three years in Bharat Heavy Electricals Limited (BHEL) designing power generating equipment, six years in Central Electricity Authority with macro-level planning of power systems and 27 years in PFC, playing a key role in project appraisal, financial modelling, project monitoring & stressed asset resolution.

Prior to being appointed as the CMD of PFC, Dhillon held the post of Director (Projects) of PFC, where he was responsible for business growth & asset quality. Under his leadership, PFC increased its focus on renewable energy business and refinancing of commissioned assets. He has also spearheaded PFC’s business diversification efforts both by cross-border funding and expanding the business into new market segments.

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