Jammu, February 11, 2025: REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) and a leading non-banking financial company (NBFC) under the Ministry of Power, has signed an agreement with Chenab Valley Power Project Limited (CVPPL) to provide a term loan of ₹2147.51 crore for the development and construction of the Pakal Dul Hydroelectric Project in Jammu & Kashmir.
An official spokesperson of REC told Kashmir Convener that the loan will be utilized for the development and construction of the greenfield Pakal Dul Hydro Electric Project, a 1000MW capacity hydroelectric project with a total estimated cost of ₹12,669.67 crore. The project is being developed on the Marusadar River, located in the Kishtwar District of Jammu & Kashmir.
The formal signing ceremony took place on Tuesday at CVPPL’s Corporate Office in Jammu (J&K) in the presence of Ramesh Mukhiya, Managing Director, CVPPL and Bhupesh Chandolia, Chief Project Manager (CPM), REC Limited, Regional Office Jammu along with other senior officials from both organizations.
Spokesperson said this strategic collaboration marks a significant milestone in the pursuit of sustainable energy development in the Jammu & Kashmir region.
The Pakal Dul Hydro Electric Project is expected to play a pivotal role in harnessing renewable energy resources, contributing to the region’s energy security, and supporting India’s clean energy transition.
Previously, REC has signed an agreement in April 2024 with CVPPPL for financial assistance of ₹1869.265 Crore as Term Loan. The loan was for Development, Construction and Operation of Greenfield Kiru Hydro Electric Project (4 x156 MW) on River Chenab located in Kishtwar District of Jammu & Kashmir.
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