Harsh Baweja has officially assumed his role as Director (Finance) at REC Limited following the green light from the Appointments Committee of the Cabinet (ACC) on May 10, 2024.
The appointment of Baweja, a seasoned Chartered Accountant with over 33 years of extensive experience, underscores REC‘s commitment to fortified financial stewardship. Identified as the ideal candidate by the Public Enterprise Selection Board (PESB), Baweja’s selection followed a rigorous process that evaluated 11 candidates.
During his tenure as Executive Director of Finance at REC, Baweja showcased his adeptness in navigating complex financial landscapes, steering the organisation through various challenges with finesse. His strategic acumen and profound understanding of the energy sector’s financial intricacies have been instrumental in driving REC’s growth trajectory and enhancing its financial performance over the years.
Baweja’s strategic initiatives have played a pivotal role in addressing challenges such as stressed assets, thereby contributing significantly to REC’s pursuit of achieving a Net Zero NPA status by the end of the fiscal year. His vision extends to positioning REC as a frontrunner in renewable energy financing, aligning with the company’s commitment to sustainable development.
In his new role, Baweja aims to prioritise securing low-cost borrowing, driving healthy growth for stakeholders, and consolidating REC’s position in renewable energy financing with the aim of achieving zero NPA by fiscal year end.
Also Read | Ministry of Power Nominates Shashank Misra as Government Nominee Director on REC Limited Board
As Director of Finance, Mr. Baweja will lead REC’s financial strategies, ensuring the company’s continued resilience and furthering its initiatives towards sustainable development. His expertise will be pivotal in reinforcing REC‘s leadership in the energy finance domain.