J&K Cabinet Okays Setting Up of JK Renewable Energy Corporation

The corporation will be a private limited company wholly owned by the state government with an authorised share capital of Rs 1 crore fully paid up and subscribed by the Jammu and Kashmir government.

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In a move to boost the usage of green energy, the Cabinet of Jammu and Kashmir has given its approval for the setting up of the much awaited Jammu and Kashmir Renewable Energy Corporation.

Further, the decision was taken at the Cabinet meeting chaired by the Chief Minister Mehbooba Mufti in Jammu.

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According to an official spokesperson, the corporation will be a private limited company wholly owned by the state government with an authorised share capital of Rs 1 crore fully paid up and subscribed by the Jammu and Kashmir government.

The Cabinet authorised the administrative secretary, Science and Technology Department, to take necessary steps for creation and setting up of the Renewable Energy Corporation.

Source: PTI