"In a major development the Union Ministry of Environment, Forests and Climate Change (MoEFCC) has accorded environment clearance to 624 MW Kiru HE Project in J&K State," NHPC said in a statement.
The Kiru project will be developed by Chenab Valley Power Projects Pvt Ltd, a joint venture among NHPC, J&K State Power Development Corp and Power Trading Corporation of India.
"It is considered as a major achievement of Chenab Valley Power Projects (CVPP) Ltd which took over the project from NHPC in June 2013 and within a period of almost three years it obtained all the major clearances for the project," the statement said.
The forest clearance for the project has already been accorded by J&K government in May, the statement said.
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Techno-economic appraisal for the project has also been accorded by Central Electricity Authority on June 13.
In addition to the Kiru Hydroelectric Project, CVPP Ltd also envisages the implementation of 1,000 mw Pakal Dul Hydroelectric Project, 540 mw Kwar Hydroelectric Project and 550 mw Dulhasti (Stage-II) Hydroelectric Project (550 mw) in Chenab river basin.
The Kiru HE Project is proposed on river Chenab near village Patharnakki in district Kishtwar of Jammu & Kashmir State.
The environment clearance was issued on June 24, as per the recommendations of Expert Appraisal Committee (EAC).
The public hearing of the project was conducted by J&K State Pollution Control Board in November 2015.
The total cost of project is about Rs 4,640.88 crore and is likely to be completed in 54 months.
"The overall benefits of project to the State shall include a share of 49 per cent power from the project besides 12 per cent free power to State and 1 per cent free power towards Local Area Development Fund (LADF)," it said.