New Delhi: REC Energy Improvement and Consultancy Restricted (RECPDCL), a subsidiary of the ‘Maharatna’ REC Restricted, and Bharat Heavy Electrical Restricted (BHEL) have signed a memorandum of understanding (MoU) to collaboratively develop utility-scale renewable power tasks throughout India. Renewable power tasks of 10 MW or extra are known as utility-scale tasks.
The businesses would arrange a particular objective automobile (SPV) to develop renewable power tasks for provide to discoms.
“The SPV will likely be benefitted by the core engineering experience of Bhel and infrastructure funding experience of REC Restricted. The SPV will focus to cater power requirement of ideally the business and industrial (C&I) phase with preliminary capability of 1 GW which might additional be scaled up,” the corporate stated in an announcement.
On the signing ceremony in New Delhi, dignitaries together with Vivek Kumar Dewangan, CMD, REC; Koppu Sadashiv Murthy, CMD, BHEL; and different key officers from each organizations underscored the potential affect of their collaboration.
“We’re happy to announce the signing of an MoU with BHEL for the formation of a three way partnership centered on creating utility-scale renewable power tasks,” stated REC CMD Vivek Kumar Dewangan. He highlighted the synergy between REC’s renewable sector expertise and BHEL’s manufacturing and engineering excellence, envisioning the SPV as a pivotal participant in attaining India’s clear power targets.
Echoing this sentiment, BHEL’s CMD Koppu Sadashiv Murthy, highlighted the numerous alternatives within the renewable power phase and the mixed strengths of each organizations in attaining the set targets.
RECPDCL has established itself as a key participant within the energy sector, providing consultancy and mission implementation companies throughout greater than 50 state energy distribution corporations. With this new enterprise into renewable power, RECPDCL goals to additional diversify its enterprise mannequin and income streams.
REC Restricted, a ‘Maharatna’ Central Public Sector Enterprise, has been pivotal in financing the event of India’s energy infrastructure, together with the burgeoning sectors of renewable power, electrical automobiles, and inexperienced hydrogen.
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