The Kwar hydropower project will be implemented by Chenab Valley Power Projects Private Ltd (CVPPL), a joint venture company between NHPC Ltd and Jammu & Kashmir State Power Development Corporation (JKSPDC) with equity contribution of 51 per cent and 49 per cent respectively. The project shall generate 1,975.54 million units in a 90 per cent dependable year. "Government of India is extending a grant of Rs 69.80 crore towards the cost of enabling infrastructure and also supporting the Union Territory of Jammu & Kashmir by providing grant of Rs 655.08 crore for Equity contribution of JKSPDC (49 per cent) in VPPPL. NHPC shall invest its equity (51 per cent) of Rs 681.82 crore from its internal resources," it was announced after the Cabinet Committee on Economic Affairs (CCEA) meeting.