NHPC Ltd has formed Ratle Hydroelectric Power Corporation Ltd, a joint venture firm with Jammu & Kashmir State Power Development Corporation Ltd for the implementation of 850 MW Ratle hydroelectric project in the Union Territory.

NHPC holds 51 per cent stake in the JV with the partner holding the balance.

The Cabinet had approved the strategic project in January at an estimated cost of ₹5,282 crore. The Ministry has already conveyed the investment sanction for the construction, a Ministry statement said.

The Ratle hydroelectric project is a run-of-river scheme located on Chenab river in Kishtwar district of Jammu and Kashmir.

The foundation stone for the project was laid in 2013, when its contract had been awarded to GVK Industries Ltd. However, progress stalled due to frequent disruptions in the conflict-affected region.

A tripartite MoU for the project was subsequently signed in February 2019 between JKSPDC, NHPC and the erstwhile government of Jammu and Kashmir State.