The Union Cabinet led by Prime Minister Narendra Modi approved the infusion of Rs 1,500 crores in the Indian Renewable Energy Development Agency Limited (IREDA).
IREDA is a public sector unit (PSU) under the Ministry of New and Renewable Energy, to enable it to lend loans up to Rs 12,000 crores to the renewable energy sector.
Union Minister Anurag Thakur stated that IREDA plays a big role in the field of renewable energy. This agency was established to finance renewable energy.
"With the infusion of increased equity, IREDA would be able to lend loans up to Rs 12,000 crore in the renewable sector," Thakur said.
(With inputs from ANI)