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REC to provide Rs 1,869-crore financial assistance for Kiru hydro project in J&K
Power Generation - Apr 25,2024 -REC will provide a term loan of Rs 1,869 crore for 624 MW Kiru Hydro Electric Project located in Kishtwar, Jammu & Kashmir. It will be utilised for development, construction and operation of the project on Chenab river. The non-banking finance company has signed an agreement with Chenab Valley Power Project (CVPPPL), for the financial assistance as loan.
The project envisages construction of a 135-mtrs. high dam and an underground power house with four units of 156 MW each. CVPPPL is a joint venture between NHPC (51 percent) and JKSPDC (49 percent). The company was incorporated in 2011.
REC, under Ministry of Power finances the power-infrastructure sector comprising generation, transmission, distribution, renewable energy and new technologies like electric vehicles. The loan book of REC stands at Rs 4.97 lakh crore as on December 31, 2023.
Company : Renewable Energy CorporationChenab Valley Power Project
National Hydroelectric Power Corporation
Jammu and Kashmir State Power Development Corporation
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