PFC Signs Agreement with Chenab Valley PPL for ₹1869.265 Cr Loan for Kiru HEP

Jammu: Chenab Valley Power Project Private Limited (CVPPPL), a Joint Venture of NHPC LTD (51%) and JKSPDC (49%) has signed an Agreement with Power Finance Corporation Limited,  a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, for Term Loan of ₹1869.265 Crore.  With this agreement, the Financial Closure for Kiru HEP projectb in Jammu and Kashmir,  for Rs. 3738.53 crore, has been achieved according to a company press note..

As per the Agreement, the Loan will be used to Develop and Construct the Greenfield Kiru Hydro Electric Project (4×156 MW) on the River Chenab in the Kishtwar District of Jammu & Kashmir.

The formal signing of the agreement took place today, the 14th June  at the corporate office of CVPPPL in Jammu , in the presence of  Ramesh Mukhiya, Managing Director, Vasant Hurmade, GM (C&P), Sanjay Kumar Gupta, GM (Finance), from CVPPPL and  Nitin Kumar, GM & HOU (CSP),  Avinash Chand,  Vishu Chaudhary from PFC and  Ranjan Kumar Giri, AVP from IDBI Capital Markets & Securities Limited, among other key officials of respective organizations.

This collaboration marks a significant step towards sustainable energy development in the region.