RECPDCL & BHEL ink MoU to develop utility-scale Renewable Energy Projects

New Delhi, March 15  REC Power Development and Consultancy Limited (RECPDCL) on Friday signed a MoU with Bharat Heavy Electrical Limited (BHEL) to develop utility-scale Renewable Energy Projects across the country.
"The MoU targets for joint development of utility-scale Renewable Energy Projects across the country thereby contributing to the clean energy targets of the nation through a dedicated Special Purpose Vehicle (SPV)" REC said in a statement.
The SPV will benefit from the core engineering expertise of BHEL and the infrastructure investment expertise of REC Limited.
The SPV will focus on the energy requirement of preferably the commercial and industrial (C&I) segment with an initial capacity of 1 GW which would further be scaled up, it said.
Speaking after the MoU, Vivek Kumar Dewangan, CMD, said, “We are pleased to announce the signing of a MoU with BHEL for the formation of a joint venture focused on developing utility-scale renewable energy projects".
Congratulating both organizations for the collaboration, he said, "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 contribute to a cleaner and greener future" he added.
On this occasion, BHEL CMD Koppu Sadashiv Murthy said that there are ample opportunities available in the RE segment for leveraging the joint strengths of both organizations to achieve the ambitious targets set by the government.