Rajesh Kumar began his career at WAPCOS Limited, gaining experience in corporate accounts, taxation, budgeting, banking and investments. After nearly a decade, he joined REC Limited, where he developed strong expertise in power sector financing through field-level exposure to state projects. Over the years, he has handled functions such as project appraisal, bond issuances, audits, tax compliance, accounts finalisation and Indian Accounting Standards implementation, and has also served as chief executive officer of REC Power Development and Consultancy Limited. Currently, he oversees domestic resource mobilisation (around 75 per cent of REC’s borrowings), along with asset liability management, IT, multilateral funding and ESG initiatives.
Assessing the power sector, he highlighted India’s transformation from basic electrification to rapid renewable integration, with installed capacity reaching 476 GW in 2025. Reforms under the Revamped Distribution Sector Scheme, improvements in discom finances and India achieving its 50 per cent renewable energy target ahead of schedule reflect sectoral progress.
However, challenges remain. Discoms, though improving, still require sustained financial discipline. Rapid renewable addition is placing pressure on grid stability and transmission infrastructure, necessitating accelerated investments. Global economic uncertainties, evolving regulatory frameworks and climate-related risks also pose challenges. Looking ahead, power demand is expected to grow at 6-8 per cent annually, necessitating investments of Rs 12 trillion-Rs 15 trillion per year.
One of the most defining assignments of his career was leading fundraising efforts during the peak of the Covid-19 pandemic. With markets volatile and liquidity constrained, Kumar adopted a multi-pronged approach to secure funds and restore confidence among investors, borrowers and internal stakeholders, ensuring business continuity during an unprecedented crisis.
He follows a participative management style, encouraging open discussions, collaborative decision-making and accountability, while placing strong emphasis on mentoring future leaders.
Kumar is a commerce graduate from SRCC, Delhi University, and holds dual professional qualifications as a cost and management accountant and a chartered accountant. Despite challenges, Kumar remains optimistic about India’s resilient, reform-driven and sustainable energy trajectory aligned with the vision of Viksit Bharat. w