REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which REC will provide CVPPPL with a financial assistance of Rs 18.69 billion as term loan.
The loan will be utilised for development, construction and operation of the greenfield 4×156 MW Kiru hydro electric project on River Chenab, in Kishtwar district of Jammu & Kashmir. The 624 MW Kiru hydro electric project is a run-of-river scheme, which envisages construction of dam of height 135 metres and an underground power house with four units of 156 MW each.