The Union cabinet has approved the MNRE’s proposal to raise Rs 23.6 billion in bonds through the IREDA during 2017-18. These funds will be used by the MNRE for the approved programmes/schemes for solar parks, green energy corridors, generation-based incentives for wind projects, CPSU and defence solar projects, viability gap funding for solar projects, rooftop solar, off-grid/grid-distributed and decentralised renewable power, and investment in corporations and autonomous bodies. This will help achieve the renewable energy targets set by the MNRE.