The Memorandum of Association (MoA) for the establishment of the BIMSTEC Energy Centre (BEC) was signed on22 January 2011. Its functions consist of research and analyze energy related data including grid interconnections, transnational natural gas pipelines, development of hydro potential and renewable sources of energy, energy trade, investment in energy and capacity building.

The First Meeting of the Governing Board of the BIMSTEC Energy Centre held in Bengaluru, India on 27 February 2023 finalized the draft Host Country Agreement between the Government of the Republic of India and the BIMSTEC Secretariat which was considered by the Special Meeting of the BIMSTEC Permanent Working Committee (S-BPWC) held in Paro, Bhutan on 05-06 October 2023 and recommended it to the Twenty Fourth Session of the BIMSTEC SOM for endorsement. The GB Meeting also appointed the first Executive Director of BEC.