It aims to start with a capacity of 1 GW, with plans for future expansion.
Rural Electrification Corporation Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, has signed a Memorandum of Understanding (MoU) with Bharat Heavy Electrical Limited (BHEL) to jointly develop utility-scale renewable energy projects across India. The collaboration aims to support the nation’s clean energy objectives through the formation of a dedicated Special Purpose Vehicle (SPV).
The SPV will leverage BHEL’s engineering expertise and REC Limited’s investment capabilities in infrastructure, initially focusing on the commercial and industrial (C&I) segment. It aims to start with a capacity of 1 GW, with plans for future expansion. The partnership was formalised in a ceremony in New Delhi, attended by key figures from both organisations.
Shri Vivek Kumar Dewangan, CMD of REC, highlighted the complementary strengths of REC’s experience in renewables and BHEL’s manufacturing and engineering expertise, stating that the SPV will significantly contribute to India’s renewable energy targets. BHEL’s CMD, Shri Koppu Sadashiv Murthy, emphasised the vast opportunities in the renewable sector and the potential of the joint venture to meet government objectives.
This strategic collaboration is a step towards harnessing solar, wind, and green hydrogen resources to fulfil India’s energy needs while promoting a sustainable and cleaner energy future.
