REC, BHEL team up for renewable energy projects
25 Mar 2024
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, and Bharat Heavy Electrical Limited (BHEL) have agreed to jointly develop utility scale renewable energy projects across the country.
The two central sector companies have entered into a memorandum of understanding (MoU) to create a special purpose vehicle (SPV) for undertaking renewable energy projects across the country.
The SPV will be setting up renewable power projects having an initial capacity of 1GW, but scalable depending on future requirements.
The focus is on energy needs of the commercial and industrial sector and the project capacity would be scaled up to cater to any increase in power consumption.
This would also address the need for wider use of clean energy and help reach the committed clean energy target of the country.
The collaboration will include the entire spectrum of renewable power projects, including solar, wind, and green hydrogen.
The SVP will leverage on RECPDCL’s vast experience in renewable energy infrastructure investment and BHEL's manufacturing and engineering expertise.
REC Power Development and Consultancy Limited has been providing knowledge-based consultancy and expert project implementation services to power distribution companies and power departments of various states.
It has also been executing critical infrastructure upgradation projects of smart metering, distribution and transmission sectors. It is now gearing up to enter the renewable energy sector through new business models.
