Newdelhi:1/3/18:Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power signed a Memorandum of Understanding (MoU) here today, with the Airports Authority of India (AAI) for installing energy-efficient LED lights at airports, buildings and facilities owned by AAI across India. EESL will make the entire upfront investment of Rs. 24.41 crore on the project.
The MoU is signed under the Buildings Energy Efficiency Programme (BEEP). The entire procurement of lighting equipment, installation and maintenance will be undertaken by EESL without any cost burden on AAI. The project will be completed within 4 months from the date of signing a definitive Energy Performance Agreement (EPA).
Under the MoU, EESL will execute the energy efficiency programme on Energy Service Companies (ESCO) model where the entire upfront investment is borne by EESL and recovery of investments is made through monetised shared savings. The contract period is five years and EESL takes complete responsibility of replacement / repair for the duration.
EESL has partnered with several leading institutions like the Indian Railways, Central Public Works Department, Delhi Metro Rail Corporation etc, to replace inefficient lighting and cooling appliances with efficient equipment. EESL has already retrofitted energy-efficient appliances in prominent government buildings such as NITI Aayog, Nirman Bhawan, Sardar Patel Bhawan, Shastri Bhawan, J&K Assembly, Jammu Secretariat, Vidyut Bhawan, and Rajiv Chowk metro station. At present, the cost savings through 508 completed building projects across India are estimated to be over Rs. 41 crore with reduction of 38,392 tonnes of CO2 emissions, which is bound to increase with each completed project. Currently, the programme is being implemented at 2,862 buildings across India and will be completed by March 31st, 2018.
As part of the Buildings Energy Efficiency Programme launched in May 2017, EESL intends to bring in investment of around Rs. 1000 crore covering more than 10,000 large government / private buildings by 2020 enabling annual monetary savings of Rs. 800 crore, energy savings of 100 crore kWh per year and annual CO2 reduction of 10 lakh tonne.
The MoU was signed by Shri Saurabh Kumar, Managing Director, EESL and Shri A.K. Sharma, Executive Director, Airports Authority of India, in the presence of Shri Ajay Kumar Bhalla, Secretary, Ministry of Power and Shri Guruprasad Mohapatra, Chairman, Airports Authority of India.
Speaking at the occasion, Shri Saurabh Kumar, MD, EESL said, “Replacement of existing conventional light fittings with energy-efficient LEDs across airports and buildings of AAI will contribute significantly to India’s climate goals. We have successfully transformed multiple commercial buildings in India into energy-efficient complexes. We are well on our way to radically transform the energy efficiency scenario in the country by retrofitting huge commercial complexes.”
Energy Efficiency Services Limited (EESL), under the Ministry of Power, Government of India, is working towards mainstreaming energy efficiency and is implementing the world’s largest energy efficiency portfolio in the country. Driven by the mission of Enabling More – more efficiency, more innovation, EESL aims to create market access for efficient and future ready transformative solutions that create a win-win situation for every stakeholder. By 2020, EESL seeks to be a $1.5 billion-dollar (Rs 10,000 crore) company putting together all the programmes of EESL.
Thus far, EESL has distributed over 29 crore LED bulbs and retrofitted 48 lakh smart LED streetlights across India through self-sustaining commercial models. It has pioneered innovative business approaches to successfully roll-out large-scale programs that allow for incentive alignment across the value chain and rapidly drive transformative impact. EESL aims to leverage this implementation experience and exploit new opportunities in overseas market for diversification of its portfolio. As on date, EESL has begun its operations in UK, South Asia and South-East Asia.