REC Power Development and Consultancy Limited (RECPDCL) has signed an memorandum of understanding (MoU) with Bharat Heavy Electrical Limited (BHEL) for joint development of utility scale renewable energy projects across the country.
The MoU aims to contribute to the clean energy targets of the nation, through a dedicated special purpose vehicle (SPV). The SPV will be benefitted by the core engineering expertise of BHEL and infrastructure investment expertise of REC Limited. The SPV will focus on catering to the energy requirement of preferably the commercial and industrial segment, with an initial capacity of 1 GW which would be scaled up further.