REC Limited and Power Finance Corporation merger underway

REC Limited and Power Finance Corporation (PFC) are proceeding with a merger-by-absorption scheme. According to REC Chairman and Managing Director Jitendra Srivastava, the merger is intended to enhance balance sheet strength, capital efficiencies, and operational synergies, ultimately supporting large-scale funding and improved credit flow across the power sector value chain.

In recent financial performance, REC reported its highest-ever annual disbursements of Rs 2.11 lakh crore during FY2025-26, with sanctions reaching Rs 4.09 lakh crore. The company's net worth exceeded Rs 84,000 crore, and it reported a net profit of Rs 16,282 crore. REC has also increased its focus on renewable energy, sanctioning 58 projects with an aggregate capacity of over 13,000 MW.

Separately, REC has completed the sale of its project-specific special purpose vehicle, Luhri Power Transmission Limited. The entity was transferred to Terralight Solar Energy Tinwari Private Limited through REC’s subsidiary, REC Power Development and Consultancy Limited. The transaction, valued at approximately ₹14.13 crore, follows a competitive bidding process.