Govt to raise Rs 2,360 crore for renewable energy

The funds will be used for solar park, green energy corridor and generation-based incentives for wind projects

GN Bureau | May 25, 2017


#ministry of renewable energy   #IWAI   #IREDA   #REC   #PFC   #NHAI   #PSU   #cabinet   #CPSU   #defence solar projects  

The cabinet has given it’s green signal to raise bonds of Rs 2,360 crore for renewable energy.

The bonds will be raised by the ministry of new & renewable energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA), a Miniratna enterprise, during current fiscal.
 
These funds will be used by MNRE in the approved programmes for solar park, green energy corridor, generation-based incentives for wind projects, CPSU and defence solar projects, viability gap funding for solar projects, roof-top solar, off-grid/grid-distributed and decentralised renewable power, investment in corporations and autonomous bodies.
 
Such timely investment would boost infrastructure in the renewable sector and facilitate achievement of ambitious targets for the renewable energy sector. The resources raised would be used for developing additional capacity in renewable energy sector which would result in generation of additional employment.
 
The government had declared additional finance mobilisation of Rs 31,300 crore bonds through NHAI, PFC, REC, IREDA and IWAI in the budget for 2016-17 FY. As part of this, the centre had allocated Rs 4,000 crores to IREDA to raise “GOI fully serviced taxable bonds” on behalf of the MNRE during the 2016-17 fiscal.
 

Comments

 

Other News

Govt announces strategic collaboration to empower Atal Tinkering Lab schools

Atal Innovation Mission, NITI Aayog and All India Council for Technical Education (AICTE), and Ministry of Education’s Innovation Cell has announced their strategic collaboration which aims to empower Atal Tinkering Lab school (ATLs) students for world-class future-ready

Agriculture Min signs MoU with Microsoft to develop smart interface for farmers

Union Ministry of Agriculture and Microsoft India has inked a Memorandum of Understanding (MoU) for a pilot project in 100 villages of six states to develop farmer interface for smart and well-organized agriculture, including post-harvest management and distribution. The pilot

NIXI inaugurates new initiatives to improve IPV6 adoption

Ajay Prakash Sawhney, Secretary Ministry of Electronics & Information Technology (MeitY) & Chairman NIXI has inaugurated three initiatives of the National Internet Exchange of India (NIXI). With this launch, NIXI has announced to play a supporting role for the IPv6 aw

India’s Second Wave crosses 2-lakh milestone

The Second Wave in India seems unstoppable. The number of daily new cases crossed the 2,00,000 figure on Thursday morning, which is the highest ever anywhere in the world. Most of the burden – 81 percent cases – is from ten states with Maharashtra continuing to lead the tally. The national capi

Govt approves stepping up of Remdesivir Drug production

The government has reviewed the issue of availability of Remdesivir Drug and has decided to increase the production and decrease the price of the drug. The government has​ also issued a ban on its export. Remdesivir is the first drug approved by the FDA for treating the SAR

NCSC Online Grievance Management Portal for scheduled castes

Union Minister for Communication & IT and Law & Justice Ravi Shankar Prasad launched the Online Grievance Management Portal of National Commission for Scheduled Castes (NCSC) in the presence of Minister of State for Social Justice & Empowerment Shri Rattan Lala Kata

Visionary talk series with Nupur Sharma, National Spokesperson, BJP



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter