In a significant move towards accelerating India’s renewable energy and infrastructure development, REC Power Development and Consultancy Ltd (RECPDCL), a wholly-owned subsidiary of REC Ltd, and Bharat Heavy Electricals Limited (BHEL), a Maharatna Public Sector Undertaking (PSU), have announced the formation of a joint venture (JV). The partnership, with a 50:50 shareholding ratio, aims to spearhead the development of renewable energy and other power infrastructure projects across the country.
The decision was made in a meeting of the Board of Directors of REC Ltd, held on May 8, 2025. The joint venture will focus on the joint development of renewable energy projects, as well as other power and infrastructure projects, subject to requisite statutory clearances and approvals from administrative authorities.
About REC Ltd
REC Ltd has long been a crucial player in India’s power sector, financing and promoting power projects through loans to central and state power utilities, rural electric cooperatives, NGOs, and private power developers. The company plays a pivotal role in supporting the country’s power sector transformation.
About BHEL
BHEL, established in 1964, is one of India’s largest government-owned electrical and industrial technology companies. With a strong presence in the power generation sector, BHEL brings extensive expertise in manufacturing and supplying equipment for power generation, transmission, and distribution.
The collaboration between these two prominent public sector entities is expected to significantly contribute to India’s renewable energy goals, as well as boost the country’s infrastructure development. The joint venture will leverage the strengths of both companies to address the growing demand for clean energy solutions and infrastructure projects in the nation.
Both REC Ltd and BHEL expressed confidence that this partnership will drive innovations and help achieve sustainable growth in the power sector.
The formation of the joint venture is subject to necessary clearances and approvals from statutory and administrative authorities, which are expected to be obtained soon.
