REC PDCL Board approves JV with BHEL for RE development

The Board of Directors of REC Power Development and Consultancy Limited (REC PDCL) has approved the formation of a joint venture company with Bharat Heavy Electricals Limited (BHEL) for renewable energy (RE) development in India.

Both companies will hold equal stakes in the new joint venture. The announcement follows the Memorandum of Understanding (MoU) signed on March 15, 2024.

The JV will develop renewable energy power projects and other power and infrastructure projects across the country. The Special Purpose Vehicle (SPV) will leverage BHEL’s engineering capabilities and REC Limited’s infrastructure investment experience.

The JV will initially target 1 GW of capacity, primarily to meet the energy needs of the commercial and industrial (C&I) segment. The capacity is expected to be scaled up in future phases.

This move supports India’s clean energy goals by promoting dedicated infrastructure for C&I renewable energy use.