With reference to Indian Renewable Energy Development Agency Ltd. (IREDA) consider the following statements:1.It is a government agency that is responsible for regulating the use of renewable energy in India.2.It provides term loans for the acquisition of renewable energy assets and for the expansion and modernization of existing renewable energy and energy efficiency projects.Select the correct answer from the codes given below:

Q. With reference to Indian Renewable Energy Development Agency Ltd. (IREDA) consider the following statements:
1.It is a government agency that is responsible for regulating the use of renewable energy in India.
2.It provides term loans for the acquisition of renewable energy assets and for the expansion and modernization of existing renewable energy and energy efficiency projects.
Select the correct answer from the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. IREDA is a public sector financial institution that provides financial assistance for renewable energy and energy efficiency projects. It is not a regulatory body.

Statement 2 is correct. It provides term loans for the acquisition of renewable energy assets and for the expansion and modernization of existing renewable energy and energy efficiency projects.

Source: ForumIAS

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS