REC and BHEL join forces for utility-scale renewable energy projects across India

Collaboration aims to meet clean energy targets, leveraging expertise in engineering and infrastructure investment.

REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has signed an MoU with Bharat Heavy Electrical Limited (BHEL) for the joint development of utility-scale Renewable Energy Projects across the country. The aim of the MoU is to contribute to the nation’s clean energy targets through a dedicated Special Purpose Vehicle (SPV).

The SPV will benefit from BHEL’s core engineering expertise and REC Limited’s infrastructure investment expertise. It will primarily focus on meeting the energy requirements of the commercial and industrial (C&I) segment, starting with an initial capacity of 1 GW which will be further scaled up.

The MoU was signed recently, in New Delhi, in the presence of CMD, REC, Vivek Kumar Dewangan; CMD, BHEL, Koppu Sadashiv Murthy; Director (Projects), REC, V K Singh; CEO, RECPDCL, Rajesh Kumar, and Director, IS&P, BHEL, Bani Varma.

CMD, REC, congratulated both organisations for the collaboration and provided guidance for the way forward in building renewable energy assets, including solar, wind, and green hydrogen. “We are pleased to announce the signing of an MoU with BHEL for the formation of a joint venture focused on developing utility-scale renewable energy projects. This collaboration brings together our extensive experience in the renewable energy sector with BHEL’s proven expertise in manufacturing and engineering. This SPV will play a crucial role in achieving India’s ambitious renewable energy targets and contributing to a cleaner and greener future.”

On this occasion, BHEL CMD stated that there are ample opportunities available in the RE segment to leverage the joint strengths of both organizations in order to achieve the ambitious targets set by the Government of India.