New Delhi, May 10 (PTI) The proposal to set up a joint venture with RECPDCL is currently with the Department of Investment and Public Asset Management (DIPAM) for its approval, state-run BHEL said on Saturday.

In March 2024, REC Power Development and Consultancy Ltd (RECPDCL) -- a wholly owned subsidiary of REC Ltd -- had signed an MoU with Bharat Heavy Electrical Ltd (BHEL) for joint development of utility scale renewable energy projects across the country.

Also Read | SSC Exam Calendar 2025 Released: Check Complete Schedule for CGL, CHSL, Delhi Police SI, JEE and Other Major Exams at ssc.gov.in.

The MoU aims to contribute to the clean energy targets of the nation, through a dedicated special purpose vehicle (SPV).

In an exchange filing on Saturday, the proposal is under approval with DIPAM. After the same, the proposal will be re-submitted to BHEL board for incorporation of the JVC and investment (with due diligence and feasibility report).

Also Read | Bodoland Lottery Result Today, May 10, 2025: Assam State Lottery Sambad Saturday Lucky Draw Results Declared, Check Winners List With Ticket Numbers.

The joint venture agreement will be signed after all necessary approvals are obtained and disclosure under regulation 30 of the SEBI (LODR) Regulations, 2015 in this regard shall be made suitably.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)