Govt sets up panels to work out PFC-REC merger process

The Indian government has established two dedicated panels to facilitate the merger of Power Finance Corporation (PFC) and REC Ltd, two critical players in the country’s energy sector. This initiative, spearheaded by the Ministry of Power, aims to streamline the integration process and enhance operational efficiency as India navigates its energy transition. One panel will focus on the technical aspects of merging the two firms, while the second will monitor the overall progress of the merger. The collaboration between PFC and REC Ltd is seen as pivotal in advancing India's renewable energy goals, ultimately contributing to the nation's commitment to sustainable development and reducing carbon emissions. The establishment of these panels signifies the government's proactive approach in managing the complexities associated with this merger, ensuring that both organizations can better serve the energy needs of the country in the long run.