Jammu: REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, has signed a term loan agreement with Chenab Valley Power Project Limited (CVPPL) for ₹2,147.508 crore. The loan will be used for the development and construction of the greenfield Pakal Dul Hydro Electric Project, a 1,000 MW capacity project with a total estimated cost of ₹12,669.67 crore. The project is being developed on the Marusadar River in the Kishtwar district of Jammu & Kashmir.
The signing ceremony took place on February 11, 2025, at CVPPL’s corporate office in Jammu, in the presence of Ramesh Mukhiya, Managing Director of CVPPL, and Bhupesh Chandolia, Chief Project Manager (CPM) of REC Limited, Regional Office Jammu, along with other senior officials from both organizations.
The Pakal Dul Hydro Electric Project is expected to play a key role in enhancing renewable energy capacity in the region, contributing to energy security and supporting India’s clean energy transition. The project will also help in harnessing the hydropower potential of Jammu & Kashmir, which has significant untapped resources.
This agreement follows REC’s earlier loan commitment of ₹1,869.265 crore to CVPPL in April 2024 for the development, construction, and operation of the greenfield Kiru Hydro Electric Project (4×156 MW) on the Chenab River, also located in the Kishtwar district.
REC’s financial support for these projects aligns with the government’s focus on boosting renewable energy infrastructure and strengthening energy availability in Jammu & Kashmir, contributing to the region’s economic growth and sustainability.
