EESL signs energy efficiency pacts worth ₹500 crore

Betul (Goa): State-owned Energy Efficiency Services Ltd (EESL) has signed pacts worth ₹500 crore with state and industry bodies at the four-day India Energy Week event. 

Ladakh Autonomous Hill Development Council, Leh (LAHDC), and Vidhya Pratishthan have signed memorandums of understanding worth ₹300 crore and ₹200 crore respectively with EESL during the event. The partnerships aim to enhance energy efficiency in critical areas such as lighting, clean cooking, space heating, renewables, e-mobility, cooling, and consultancy. 

The MoUs are focused on formulating a framework for collaboration in key areas of energy efficiency, the company said in a statement. “These agreements lay the foundation for executing projects that implement energy-efficient measures across various facilities, regions, and communities,” the statement said.

The pact with LAHDC includes space heating solutions across various locations in Ladakh, using innovative heat pump technology.

"Through these partnerships, we are setting the groundwork for transformative projects that will significantly contribute to India's journey towards an energy-efficient future,” said Vishal Kapoor, chief executive officer, EESL.

The development follows the recent tie-up of the state-run company for the distribution of 2,000 induction cookstoves in Ladakh.

EESL is a joint venture of NTPC, Power Finance Corporation, REC, and Powergrid. It also acts as the resource centre for capacity building of state power distribution companies, financial institutions among others.

“In line with the vision set forth by the G20 Presidency and COP’28, this collaborative initiative aims to propel India towards its ambitious carbon neutrality goals,” he added.

At the second edition of India Energy Week, EESL showcased energy-efficient appliances, including induction cookstoves, rechargeable inverter bulb, nine-watt three-star LED Bulb, e-bicycles, five-star rated BLDC ceiling fan, super-efficient air conditioners, and tube lights.