REC to give Rs 2147.508 cr term loan to set up 1K MW Pakal Dul hydro project
Jammu: REC Ltd has signed an agreement with Chenab Valley Power Project Limited (CVPPL) to provide a term loan of Rs 2147.508 crore.
The loan will be utilised for the development and construction of the greenfield Pakal Dul Hydro Electric Project, a 1000MW capacity hydroelectric project with a total estimated cost of Rs 12,669.67 crore.
The project is being developed on the Marusadar River, located in the Kishtwar District of Jammu & Kashmir.
The formal signing ceremony took place on February 11, 2025, at CVPPL’s Corporate Office in Jammu (J&K) in the presence of Ramesh Mukhiya, MD, CVPPL and Bhupesh Chandolia, Chief Project Manager (CPM), REC Ltd, Regional Office Jammu.
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 a pact in April 2024 with CVPPPL for financial aid of Rs 1869.265 crore as Term Loan to develop, construct & operate Greenfield Kiru Hydro Electric Project (4 x156 MW) on River Chenab located in Kishtwar.
