New Delhi: REC Limited, a Government of India Navratna PSU and one of India’s largest power financiers, has announced the appointment of Mr. Ajoy Choudhury to the post of Director (Finance) with effect from 1st June, 2020 upon the superannuation of the outgoing Director (Finance) Mr. Ajeet Kumar Agarwal.
Mr. Choudhury brings with him over 33 years of experience working across various functions in the power sector. Prior to joining REC, he worked with PGCIL and NHPC Limited. In his 14 years with REC Limited, he has handled a gamut of finance portfolios including loans & recovery, international finance, corporate accounts, treasury, taxation and resource mobilisation. He has been instrumental in raising finances from international agencies like the World Bank, Asian Development Bank, German Bank of Reconstruction & Development (KfW), etc.
In addition to the current role, he is also a nominee director on the board of REC-PDCL, a wholly owned subsidiary of REC Limited, and TRN Energy Pvt. Ltd., a subsidiary of ACB (India) Power Limited.
About REC Limited: REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years in the area of its operations. It provides financial assistance across the power-sector value chain. Apart from this, REC is also the nodal agency for Govt. of India flagship schemes in the Power sector like Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Saubhagya, etc.