The state-run power generation company Uttarakhand Jal Vidyut Nigam (UJVN) has decided to renew a loan of Euro 103 million from KFW, a German financial institution, for modernisation and renovation of six old hydel projects.

The terms and conditions of the loan had expired in 2010, company officials told Business Standard. “Our chairman Subhash Kumar held talks with the Union power secretary P Uma Shanker to renew the loan from KFW,” said UJVN Director (Operation) B C K Mishra.