REC Ltd. has signed an agreement with Chenab Valley Power Project Ltd. (CVPPL) for Term Loan of ₹2147.508 crore. The Chenab Valley Power Project Ltd. is a joint venture of NHPC Ltd. and JKSPDC with 51% and 49% stakes, respectively.
The signing ceremony took place today at CVPPL’s Corporate Office in the presence of Sh. Bhupesh Chandolia, CPM, REC Regional Office Jammu and Sh. Ramesh Mukhiya, Managing Director, CVPPL and other senior officials from both organisations.
As per the agreement, the loan will be utilised for the development and construction of the greenfield Pakal Dul Hydro Electric Project 1000 MW, having a total project cost of ₹ 12669.67 crore on the River Marusadar located in Kishtwar District of Jammu & Kashmir.
This collaboration marks a significant step towards sustainable energy development in the region of Jammu & Kashmir.
