The state cabinet that met here today under the chairpersonship of Chief Minister Mehbooba Mufti approved setting up of Jammu and Kashmir Renewable Energy Corporation.According to the decision, the corporation will be a private limited company wholly owned by the state government with the authorized share capital of Rs 1 crore fully paid up and subscribed by the state government.The cabinet authorized the administrative secretary Science and Technology department to take necessary steps for creation and setting up of the Renewable Energy Corporation.