Power Finance Corporation (PFC) has signed an agreement with the Chenab Valley Power Project (CVPPPL) to extend a term loan of Rs 1,869.265 crore. The CVPPPL is a 51:49 per cent Joint Venture of NHPC and Jammu And Kashmir State Power Development Corporation (JKSPDC), Power Finance Corporation.
With this agreement, the financial closure for Kiru HEP (hydroelectric project) for Rs 3,738.53 crore has been achieved. As per the agreement, the loan will be used to develop and construct the greenfield Kiru Hydro Electric Project (4x156 MW) on the river Chenab in the Kishtwar District of Jammu & Kashmir.
Power Finance Corporation is central PSU under Ministry of Power and India's leading NBFC.
