REC, a Maharatna CPSE under Ministry of Power and a leading NBFC, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for financial assistance of Rs 1,869.265 crore as term loan.

The loan will be utilised 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, among other key officials from both organisations.

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 km from Kishtwar. The Project envisages construction of 135 m high Dam and an underground Power House with 4 units of 156 MW each.