August 2009

Setting up of new energy efficiency company

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Setting up of new energy efficiency companyGovernment of India is considering to form a new energy efficiency company, to be named as Energy Efficiency Services Ltd. (EESL).

Energy Efficiency Services Ltd. (EESL) will be a joint venture company with equity participation of 25% each from its promoters viz., the National Thermal Power Corporation (NTPC), Power Grid Corporation of India Ltd. (PGCIL), Rural Electrification Corporation Ltd. (REC) and Power Finance Corporation (PFC). It will provide implementation leadership in the area of Energy efficiency and undertake implementation of energy efficiency schemes.

It will, therefore, act as an Energy Service company for certain schemes, as a Consultancy Organization for CDM projects for demand side management and in the industrial sector and as a resource centre for training and capacity building of utilities and other stakeholders. A consolidated business plan has been prepared taking into account the above role of EESL which indicates the economic viability of the company based on aforementioned schemes and with a projected Internal Rate of Return (IRR) of 22%.

This information was given by Shri Bharatsinh Solanki, Minister of State, Ministry of Power in a written reply to a question by Shri Dharam Pal Sabharwal in the Rajya Sabha.

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