RECPDCL and BHEL Forge Partnership to Develop Utility-Scale Renewable Energy Projects.
1. A Memorandum of Understanding (MoU) was signed on March 15, 2024, by REC Power Development and Consultancy Limited (RECPDCL) and Bharat Heavy Electricals Limited (BHEL) to collaborate on the development of Utility-Scale Renewable Energy Projects throughout India.
Target to contribute to the nation's clean energy targets through a dedicated Special Purpose Vehicle (SPV).
Vivek Kumar Dewangan, Chairman and Managing Director (CMD) of REC; Koppu Sadashiv Murthy, CMD of BHEL; Rajesh Kumar, Chief Executing Officer (CEO) of RECPDCL, were present during the signing.
About MoU:
1. The SPV will profit from REC Limited's infrastructure investment experience and BHEL's core engineering competence.
2. Under this Memorandum of Understanding, RECPDCL and BHEL will create an SPV to produce Renewable Energy (RE) goods for Distribution Companies (Discoms).
Main Points:
1. The SPV will play a major role in achieving India’s target of 500 GW of RE capacity by 2030 and contribute to a cleaner and greener future.
2. With a capacity of one gigawatt (GW), the SPV will initially concentrate on meeting the energy needs of the commercial and industrial (C&I) sector.
About REC Power Development and Consultancy Limited(RECPDCL): RECPDCL was formerly known as REC Power Distribution Company Limited.
Chairman– Vivek Kumar Dewangan
CEO– Rajesh Kumar Incorporated in 2007
Headquarters– Gurugram, Haryana
About Bharat Heavy Electricals Limited (BHEL):
CMD– Koppu Sadashiv Murthy
Headquarters– New Delhi, Delhi Incorporated in 1964
