It's actually a PRV engine, made by the PRV Company, a joint effort between Peugeot, Renault and Volvo who owned equal shares in the concern. The PRV Company had its own factory in Douvrin, France, and were independent of any of its owners brands.
It's origins go back to the Company Francais De Mechanique, a joint engine effort between Peugeot and Renault in the late 60s which ultimately came to nothing on its own. PRV were initially intending to make a compact V8, but for all sorts of reasons the idea was dropped. Nevertheless, certain aspects of the original V8 design such as the 90° V can still be found d in the V6.
Interestingly, Renault sold less PRV equipped cars than its partners, Volvo the most, the latter being helped by being the only one of the three manufacturers with a constant full-scale sales set up in the US. Volvo were also the first of the three to bring a PRV powered car to market with the 264.
Interesting snippet - my Mum's feller is a wealthy car nut (he has a real 427 Cobra, a Z28 Camaro, and his daily drive is a Grandada) and his collection includes a Renault 25 turbo with uses a de-bored and turbo'd 2.5 litre version of the PRV.
