REC to Provide Loan for 1,000 MW Pakal Dul Hydro Project
13 Feb 2025 CW Team
REC Ltd, a leading government-owned financial institution, has announced a Rs 21.47 billion term loan agreement with Chenab Valley Power Project Ltd (CVPPL) for setting up the 1,000 MW greenfield Pakal Dul hydroelectric project. The project is being developed on the Marusadar River in Kishtwar, Jammu & Kashmir.
Formal Signing and Key Officials
The agreement was formally signed on February 11, 2025, at CVPPL’s Corporate Office in Jammu, in the presence of:
- Ramesh Mukhiya, Managing Director, CVPPL
- Bhupesh Chandolia, Chief Project Manager (CPM), REC Ltd, Regional Office Jammu
- Senior officials from both organisations
This strategic partnership marks a significant milestone in the region’s energy infrastructure, furthering India's push for sustainable and renewable energy solutions.
Transforming Energy Security in Jammu & Kashmir
The Pakal Dul Hydro Electric Project is expected to play a crucial role in:
- Harnessing renewable energy to strengthen India's green energy portfolio
- Enhancing energy security in the Jammu & Kashmir region
- Supporting India’s clean energy transition, aligning with national sustainability goals
This initiative underscores the growing emphasis on hydroelectric power as a vital component of India's renewable energy strategy, reinforcing the country’s commitment to reducing carbon emissions and promoting long-term energy sustainability.