State-owned REC Ltd NSE 0.19 % on Thursday said it has signed an agreement with Council on Energy, Environment and Water (CEEW) to collaborate on activities to improve the operational and financial sustainability of discoms. The Memorandum of Understanding (MoU) was signed in the presence of R Lakshmanan, Executive Director – REC NSE 0.19 % Limited, and Arunabha Ghosh, CEO at CEEW, REC said in a statement.