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news details
CVPPPL signed Loan Agreement of Rs 1869. 265 Crore
6/14/2024 10:31:17 PM

Early Times Report

JAMMU, June 14: Chenab Valley Power Project Private Limited (CVPPPL), Joint Venture of NHPC LTD (51%) and JKSPDC (49%) has signed an Agreement with PFC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, for Term Loan of Rs 1869.265 Crore (Rupees One Thousand Eight Hundred Sixty Nine Crore Twenty Six Lakh Fifty Thousand only). With this agreement, the Financial Closure for Kiru HEP for Rs. 3738.53 crore has been achieved.
As per the Agreement, the Loan will be utilized for Development and Construction of green field Kiru Hydro Electric Project (4x156 MW) on River Chenab located in Kishtwar District of Jammu & Kashmir.
The formal signing of the agreement took place on 14th June 2024 at the Corporate Office of CVPPPL in Jammu, J&K, 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 Ltd. 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.
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