Power Update

Govt okays raising of ` 2,360 Cr through bonds for RE projects

The government approved raising of ` 2,360 crore through bonds for renewable energy projects in the current fiscal.

“The Cabinet chaired by the Prime Minister Narendra Modi has given its approval to raising of bonds of ` 2,360 crore for renewable energy,” Ministry of New and Renewable Energy (MNRE) said in a statement.

The Bonds will be raised by the MNRE through the Indian Renewable Energy Development Agency (IREDA) during the 2017-18. These funds will be used by MNRE in the approved programmes/schemes 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 etc.

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