Energy Efficiency Services Limited (EESL) CEO recently pledged his support to the implementation of Energy Efficiency (EE) projects in the State of Andhra Pradesh aimed at mitigating the impact of climate change, especially in the MSME sector.
About Energy Efficiency Services Limited (EESL):
- EESL is promoted by the Ministry of Power, Government of India, as a Joint Venture of four reputed public-sector undertakings NTPC Limited, Power Finance Corporation Limited, REC Limited and POWERGRID Corporation of India Limited.
- It is registered under the Companies Act, 1956 on 10th December 2009.
- EESL was formed to create and sustain market access to energy efficient technologies, particularly in public facilities like municipalities, buildings, agriculture, industry etc. and to implement several schemes of the Bureau of Energy Efficiency, Ministry of Power and Ministry of New & Renewable Energy, Government of India.
- EESL is also leading the market-related activities of the National Mission for Enhanced Energy Efficiency (NMEEE).
National Mission on Enhanced Energy Efficiency (NMEEE):
- It is one of the eight national missions under the National Action Plan on Climate Change (NAPCC).
- Aim: To strengthen the market for energy efficiency by creating a conducive regulatory and policy regime and envisage fostering innovative and sustainable business models in the energy efficiency sector.
- The Mission is implemented since 2011.
- Initiatives under NMEEE: It consists of four initiatives to enhance energy efficiency in energy-intensive industries, which are as follows:
- Perform Achieve and Trade Scheme (PAT): Implementing a market-assisted compliance mechanism to accelerate the implementation of cost-effective improvements in energy efficiency in large energy-intensive industries.
- Market Transformation for Energy Efficiency (MTEE): Accelerating the shift to energy-efficient appliances in specific applications through innovative measures to make the products more affordable.
- Energy Efficiency Financing Platform (EEFP): Facilitating Financial Institutions to invest in Energy Efficiency Projects and Programmes.
- Framework for Energy Efficient Economic Development (FEEED): Developing fiscal instruments to leverage financing for Energy Efficiency through risk mitigation.
- Implementation agencies:
- BEE: Bureau of Energy Efficiency.
- EESL: Energy Efficiency Services Limited