Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Cabinet nod to raising bonds of Rs 2,360 cr for green energy

Author: IANS/Thursday, May 25, 2017/Categories: Bonds, Energy

Cabinet nod to raising bonds of Rs 2,360 cr for green energy

New Delhi (IANS) - The Union Cabinet on May 24 accorded its approval to raising bonds worth Rs 2,360 crore for development of renewable energy, an official said. The bonds will be raised during the current financial year by the Ministry of New and Renewable Energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA). 
 
"The resources raised would be used for developing additional capacity in renewable energy sector which would result in generation of additional employment," an MNRE statement said. The funds will be used in approved programmes for solar parks, green energy corridor, generation-based incentives for wind projects, rooftop solar power, and off-grid as well as grid-distributed and decentralized renewable power, among others, it added.

The Union Budget 2016-17 had proposed additional finance mobilisation of Rs 31,300 crore. As part of this, the government had allocated Rs 4,000 crore for raising by IREDA, which has earlier raised Rs 1,640 crore.  "The MNRE subsequently approached the cabinet to approve raising of the balance Rs 2,360 crore," the statement said, elaborating on the background to the decision.

Print Rate this article:
No rating

Number of views (389)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free