Excelsior Correspondent
JAMMU, Feb 11: REC Limited today signed an agreement with Chenab Valley Power Project Limited (CVPPL) for the development and construction of the greenfield Pakal Dul Hydro Electric Project (HEP), a 1000MW capacity hydroelectric project with a total estimated cost of Rs 12,669.67 crore.
In this regard, REC will also provide a term loan of Rs 2147.508 crore to CVPPl.
The project is being developed on the Marusadar River, located in the Kishtwar district of Jammu & Kashmir.
The formal signing ceremony was took place here today, in the presence of Ramesh Mukhiya, Managing Director, CVPPL and Bhupesh Chandolia, Chief Project Manager (CPM), REC Limited, Regional Office Jammu.
This strategic collaboration marks a significant milestone in the pursuit of sustainable energy development in the Jammu & Kashmir region.
The Pakal Dul Hydro Electric Project is expected to play a pivotal role in harnessing renewable energy resources, contributing to the region’s energy security, and supporting India’s clean energy transition.
Previously, REC has signed an agreement in April 2024 with CVPPPL for financial assistance of Rs 1869.265 crore as Term Loan.
The loan was for Development, Construction and Operation of Greenfield Kiru Hydro Electric Project (4 x156 MW) on River Chenab located in Kishtwar district of Jammu & Kashmir.
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