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REC Signs Loan Agreement with CVPPL to Develop 1,000 MW Pakal Dul HEP

REC, a leading NBFC under the Ministry of Power, has entered into a term loan agreement with Chenab Valley Power Projects (CVPPL) worth Rs 2,147.508 crore for the development of the Pakal Dul Hydro Electric Project.

This 1,000 MW capacity hydroelectric project, located on the Marusadar River in Jammu & Kashmir's Kishtwar district, is estimated to cost Rs 12,669.67 crore. The loan will fund the construction and development of the greenfield project.

This collaboration is a significant step in advancing sustainable energy initiatives in the region, with the Pakal Dul project poised to enhance renewable energy production and contribute to energy security. This is the second agreement between REC and CVPPL, following a Rs 1,869.265 crore term loan in April 2024 for the Kiru Hydro Electric Project (4x156 MW) in the same district. 

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