REC Limited signs ₹1,869.265 crore agreement for Kiru hydro electric project financing

Financial assistance provided to CVPPPL for development, construction, and operation of the 624 MW run-of-river scheme.

REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, has entered into an agreement with Chenab Valley Power Project Private Limited (CVPPPL). According to the agreement, REC will provide CVPPPL with financial assistance amounting to ₹1,869.265 crores as a Term Loan. This loan is earmarked for the Development, Construction, and Operation of the Greenfield 4 x 156 MW Kiru Hydro Electric Project situated on River Chenab in the Kishtwar district of Jammu & Kashmir.

The 624 MW Kiru Hydro Electric Project follows a run-of-river scheme, involving the construction of a dam with a height of 135 meters and an underground Power House housing 4 units, each with a capacity of 156 MW.

The signing of the agreement was witnessed by Managing Director Ramesh Mukhiya, General Manager (C&P) Vasant Hurmade, and General Manager (Finance) Sanjay Kumar Gupta from CVPPPL. Representing REC Limited were Deputy General Manager Pramod Kumar Soni and Deputy General Manager Rishabh Jain.