The loan will be utilized for development, construction and operation of the greenfield Kiru Hydro Electric Project (4x156 MW) on the Chenab River, located in Kishtwar district of Jammu and Kashmir.

Kiru Hydro Electric Project (624 MW), is a run-of-river scheme proposed on the Chenab River and is about 42 km from Kishtwar. The project envisages construction of a 135 meter high dam and an underground power house with 4 units of 156 meters each.

The agreement was signed in the presence of Rames Mukhiya, Managing Director, CVPPPL and Rishabh Jain, Deputy General Manager, REC Limited.

CVPPPL is a joint venture company between NHPC (51 per cent) and JKSPDC (49 per cent), formed on the initiative of the Government of Jammu and Kashmir and the Central Government to harness the huge hydropower potential of the Chenab River.

The company was established in 2011.

CVPPL was entrusted with the construction, ownership, operation and maintenance of Kiru HE Project (624 MW), Pakal Dul HE Project (1,000 MW), Kwar HE Project (540 MW), and Kirthai-II HE Project (930 MW). Is. The total installed capacity on (boom) basis is 3,094 MW.