State owned hydropower giant National Hydroelectric Power Corporation (NHPC) will form a joint venture with The Jammu & Kashmir State Power Development Corporation (JKSPDCL), 'Ratle Hydroelectric Power Corporation Ltd', to implement an 850 megawatt hydroelectric project in Chenab river basin. "A promoters agreement has been signed on April 13, 2021, between National Hydroelectric Power Corporation Ltd, Jammu & Kashmir State Power Development Corporation Ltd and the Government of Union Territory of Jammu and Kashmir," according to a BSE filing.
Under the pact, the parties have decided and agreed to jointly establish a company under the name of 'Ratle Hydroelectric Power Corporation Limited' for the implementation of Ratle hydroelectric project. It will have an installed capacity of 850 megawatt in the Chenab river basin and any other project that may be entrusted to the company in the Union Territory of Jammu & Kashmir.
The joint venture shall be formed in the shareholding ratio of 51% (National Hydroelectric Power Corporation Ltd) and 49% (Jammu & Kashmir State Power Development Corporation Ltd).