Jammu: REC Limited, a Maharatna CPSE and a leading NBFC under the Ministry of Power, has signed a ₹2147.5 crore term loan agreement with Chenab Valley Power Project Limited (CVPPL) to support the development of the 1000MW Pakal Dul Hydro Electric Project. The loan will help fund the construction of the greenfield project on the Marusadar River in Kishtwar District, Jammu & Kashmir, which has a total estimated cost of ₹12,669.67 crore.
The agreement was signed on February 11, 2025, at CVPPL’s corporate office in Jammu, in the presence of Sh. Ramesh Mukhiya, Managing Director of CVPPL, and Sh. Bhupesh Chandolia, Chief Project Manager of REC Limited, along with senior officials from both organizations.
This collaboration is a significant step toward sustainable energy development in Jammu & Kashmir and is expected to enhance the region’s energy security while supporting India’s clean energy goals.
Earlier, in April 2024, REC had provided a ₹1869.27 crore term loan to CVPPL for the development of the Kiru Hydro Electric Project in the same region.
