In a significant development, REC Limited, a Maharatna CPSE operating under the Ministry of Power and a prominent NBFC, has finalised a substantial financial agreement with Chenab Valley Power Project Private Limited (CVPPPL) for a term loan amounting to ₹1869.265 Crore.
The allocated funds are earmarked for the developmental phases encompassing the construction and operation of the Greenfield Kiru Hydro Electric Project, boasting a capacity of 624MW. Situated on the Chenab River in the Kishtwar District of Jammu & Kashmir, this initiative signifies a pivotal step towards bolstering the region’s hydroelectric infrastructure.
The agreement was formalised in the presence of key dignitaries, including Ramesh Mukhiya, Managing Director; Vasant Hurmade, General Manager (C&P); Sanjay Kumar Gupta, General Manager (Finance) from CVPPPL, and Pramod Kumar Soni, Dy. General Manager; Rishabh Jain, Dy. General Manager from REC Limited, among other notable attendees representing both entities.
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The Kiru Hydro Electric Project, designed as a run-of-river scheme, is strategically positioned about 42 kilometers from Kishtwar. It envisions the construction of a 135-meter-high dam alongside an underground power house equipped with four units of 156 MW each.
