Coimbatore: The Indian Renewable Energy Development Agency (IREDA) had plans to come out with three bonds of Rs 300 crore, to mobilise additional resources, according to a top company official.

The proposed bonds would be in three categories, capital gains, tax free and infrastructure- all of which were awaiting the Central government's approval, IREDA Managing Director, V Bhaktavatsalam told reporters in an informal chat on March 13.

About Rs 50,000 crore would be needed to augment 10,000 MW of renewable energy by 2012, as a 10 per cent share of the additional one lakh MW total energy generation, as envisaged by the government, he said.

The agency had financed 1,500 projects in the last 15 years. Of the potential 3,000 MW, only 1,800 MW renewable energy was being produced in the country at present, he said.

IREDA had bagged the prestigious "water globe" award for its solar powered pumping system for agriculture sector, at the "energy globe award 2002", recently at Linz in Austria, in which 90 countries participated with 1,300 projects, he added.

PTI