The Uniion government was working on an investment infrastructure fund for financing renewable energy and other power sectors, a top executive of Indian Renewable Energy Development Agency (IREDA) said on March 13.
The Centre was "seized" of the issue of creating a financial instrument for financing renewable energy and other power sectors, IREDA Chairman and Managing Director Debashish Majumdar said at the two-day conference, "RENERGY 2012" in Chennai. The request for the fund was made by IREDA, established under the Ministry of New and Renewable Energy, he said.
Majumdar said creation of investment infrastructure fund was not related to new and renewable energy alone but also to other sectors. About subsidy to certain sectors, he said subsidies should not be continued on a long term point of view.