Harsh Baweja takes charge as Director (Finance) of REC

New Delhi: Harsh Baweja has taken charge as Director (Finance) of REC Limited, the company said in an official statement on Tuesday. Prior to this, he was serving as Executive Director (Finance) in the same organisation.

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Baweja's appointment follows the recommendation by the Public Enterprise Selection Board (PESB), which identified him as the ideal candidate for the role after a rigorous selection process involving 11 candidates. He has taken over the charge of the post after the approval from the Appointments Committee of the Cabinet (ACC) on May 10.

Baweja, a seasoned Chartered Accountant, brings with him an extensive experience of over 33 years in managing financial & business operations across multiple institutions. With over three decades of expertise in finance and a background as a Chartered Accountant, Baweja's appointment underscores his proven track record in navigating complex financial landscapes.

His tenure as Executive Director of Finance at REC saw him steer the organisation through diverse financial challenges, demonstrating a keen understanding of both state and private sector financing.

His distinguished career also includes overseeing REC’s key business offices in strategic locations across India.

"Baweja's profound understanding of the intricate financial landscape within the energy sector has been instrumental in steering REC's growth trajectory and enhancing its financial performance over the years," REC said.

Notably, his strategic initiatives have been pivotal in addressing the challenges posed by stressed assets, contributing significantly to REC's journey towards achieving a net-zero NPA status by the end of the current fiscal year and diversification of financing portfolio with focus on renewable sector too.

Expressing his vision for his new role, Baweja stated, "My focus will remain steadfast on securing low-cost borrowing, driving healthy growth for all stakeholders, and positioning REC as a frontrunner in renewable energy financing with zero NPA by fiscal year end."

In his capacity as Director (Finance) of REC, Baweja will spearhead REC's financial strategies, ensuring the company's continued financial resilience and facilitating its ongoing initiatives towards sustainable development. His expertise will be pivotal in strengthening REC's position as a leader in the energy finance domain.

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