New Delhi, April 25 -- REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which REC will provide CVPPL with financial assistance of Rs. 1,869.265 crores as Term Loan. The loan will be utilized for the Development, Construction, and Operation of the Greenfield 4 x156 MW Kiru Hydro Electric Project on River Chenab, in the Kishtwar district of Jammu & Kashmir.

The 624 MW Kiru Hydro Electric Project is a run-of-river scheme, which envisages the construction of a dam of height 135 meters and an underground Power House with 4 units of 156 MW each.

The Agreement was signed in the presence of Managing Dir...