REC Limited and Chenab Valley Power Project Private Limited (CVPPPL) have entered into an agreement to provide financial support through a term loan of Rs 18.69 billion. The loan will be used to develop, build, and operate the 624 MW (4 x 156 MW) greenfield Kiru hydro-electric project in Kishtwar district of Jammu & Kashmir (J&K).
In the union territory of J&K, a run-of-river project is being considered for the Chenab river, which is located 42 kilometers from Kishtwar. The project calls for building an underground power house with four units, each generating 156 MW of power and a dam of height 135 meters.
In January 2024, REC Limited and the National Investment and Infrastructure Fund Limited entered into a MoU to work together on a range of financing options for both renewable energy projects and extensive infrastructure projects in India. In the same month, REC Limited was appointed as the central agency for the Pradhan Mantri Suryodaya Yojana initiative aimed at deploying rooftop solar systems in the residential sector.
