Several possibilities come to mind:
1 Simply rectify a 50Hz sine wave using a bunch of diodes.
2 Use a op-amp precision rectifier circuit. This will give better shape to the rectified sinewave "zero crossing" null.
3 Use a form of direct digital synthesis.
Store digitised values of a half sine wave into an EPROM (or similar), clock the values into a suitable D to A converter, pass the output of the DtoA through a low pass filter to remove the "steps" in the waveform caused by the digitisation process.
JimB