Home >Companies >News >EESL executive vice chairperson Saurabh Kumar resigns


State run Energy Efficiency Services Ltd (EESL) executive vicechairperson Saurabh Kumar has resigned, said two people aware of the development.

Set up under union power ministry, EESL is a joint venture of NTPC Ltd, and Power Grid Corp. of India Ltd. and has been allotted the demand aggregation of electric three-wheeler and electric bus component under the  10,000 crore Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (Fame) scheme of the government. Its subsidiary Convergence Energy Services Limited (CESL) aims to have 200,000 two-wheeled EVs and 300,000 three-wheeled EVs across India.

Kumar confirmed the development to Mint and said, “I have resigned on personal grounds." 

EESL, an Energy Service Company (ESCO) is among the earliest entrants in India’s energy efficiency market estimated at around Rs74,000 crore and is presently running the world’s largest domestic lighting programme. With India rolling out the world’s largest electricity smart metering programme, EESL and IntelliSmart—its joint venture with India’ quasi sovereign wealth fund National Investments and Infrastructure Fund (NIIF) has been present in India’ smart meter programme space.

India's energy efficiency measures have been best reflected in its programme to expand the use of LED (light-emitting diode) bulbs. The government’s UJALA (Unnat Jyoti by Affordable Lighting for All) scheme cut LED bulb prices. CESL is also running the Gram Ujala scheme that offers the world’s cheapest LED bulbs in rural areas at  10. While a total of 350 million compact fluorescent lamp (CFL) bulbs have been replaced with LED bulbs, the target is to reach 770 million bulbs. 

Demand side management holds the key to India's ambitious climate change commitments. The Union government also modified the marquee Fame scheme by increasing the incentive for electric two-wheelers to  15,000 per KWh and allotted the demand aggregation of electric three-wheeler and electric bus component to EESL. CESL has also called bids for procuring100,000 electric three wheelers with an estimated cost of Rs3000 crore in the largest such global tender. 

This comes at a time when climate change is a clear and present danger as articulated by the UN’s Intergovernmental Panel on Climate Change (IPCC) report which stated that extreme weather events will impact lives, livelihoods and businesses in India and South Asia, and called for immediate steps to mitigate climate change.

India, the biggest emitter of greenhouse gases after the US and China, plans to reduce its carbon footprint by 33-35% from its 2005 levels by 2030, as part of its commitments to the United Nations Framework Convention on Climate Change adopted by 195 countries in Paris in 2015. 

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