PSUs

REC signs agreement with CVPPPL for ₹1869 cr term loan for hydro project

By IndianMandarins- 24 Apr 2024
52

rec-signs-agreement-with-cvpppl-for-1869-cr-term-loan-for-hydro-project

Gurugram/Jammu (30.04.2024): REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for financial assistance of ₹1869.265 crore as Term Loan. The loan will be utilized for Development, Construction and Operation of Greenfield Kiru Hydro Electric Project (4 x156 MW) on River Chenab located in Kishtwar District of Jammu & Kashmir. 

The Agreement was signed in the presence of 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 key officials from both organizations.

Kiru Hydro Electric Project (624 MW), a run-of-river scheme is proposed on river Chenab in district Kishtwar of Union Territory of J&K and is about 42 kms from Kishtwar. The Project envisages construction of 135 m high Dam and an underground Power House with 4 units of 156 MW each.

 

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