New Delhi:Â REC Power Development and Consultancy Ltd (RECPDCL), a subsidiary of REC Ltd, and Bharat Heavy Electricals Limited (BHEL) have agreed to form a 50:50 joint venture to develop renewable energy and infrastructure projects across India.
The joint decision was finalised at REC Ltd’s Board of Directors meeting held on 8 May. The new entity will focus on implementing renewable energy projects and other infrastructure ventures, pending statutory and administrative approvals.
This partnership brings together RECPDCL’s project development experience and BHEL’s engineering capabilities, particularly in power generation and equipment manufacturing. Both companies are public sector undertakings under the Ministry of Power and Heavy Industries, respectively.
Focus on Energy Transition and Infrastructure Growth
The joint venture aligns with the government’s broader energy transition targets and infrastructure development roadmap. With India aiming for 500 GW of non-fossil fuel capacity by 2030, the collaboration is expected to address gaps in execution by pooling technical and financial resources.
According to REC’s filings, the new entity will be eligible to participate in tenders and public-private partnerships in the renewable energy and infrastructure space. Specific project details or rollout timelines have not been disclosed yet, as the venture is subject to regulatory approvals.
Background: REC and BHEL’s Sector Roles
REC Ltd has traditionally focused on financing and consultancy for power sector projects, particularly supporting rural electrification and state utilities. Its subsidiary, RECPDCL, has managed several transmission and distribution projects on a turnkey basis.
BHEL, a Maharatna PSU established in 1964, remains one of the largest engineering and manufacturing firms in the country’s power sector. It has been involved in thermal, hydro, and solar project implementation and also manufactures equipment for energy transmission and distribution.
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