REC Limited, a Maharatna CPSE and a leading NBFC under the Ministry of Power, has signed an agreement with Chenab Valley Power Project Limited (CVPPL) to provide a term loan of ₹2147.508 crore. The loan will support the development and construction of the Pakal Dul Hydro Electric Project, a 1000 MW capacity greenfield hydroelectric project on the Marusadar River in the Kishtwar District of Jammu & Kashmir. The project’s total estimated cost is ₹12,669.67 crore.
The signing ceremony took place on February 11, 2025, at CVPPL’s Corporate Office in Jammu, attended by Sh. Ramesh Mukhiya, Managing Director of CVPPL, and Bhupesh Chandolia, Chief Project Manager (CPM) of REC Limited, along with senior officials from both organizations. This collaboration aims to boost sustainable energy development in Jammu & Kashmir and support India’s clean energy transition.
Previously, in April 2024, REC signed an agreement with CVPPL for financial assistance of ₹1869.265 crore for the Kiru Hydro Electric Project (4 x 156 MW) on the Chenab River in Kishtwar District.
