REC has signed an agreement with Chenab Valley Power Project (CVPPPL), under which REC will provide CVPPPL with a financial assistance of Rs 1,869.265 crore as Term Loan. The loan will be utilized for Development, Construction and Operation of the Greenfield 4 x156 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 4 units of 156 MW each.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
