Coal India signs pact with EESL for reducing carbon footprint, improving operational efficiency

By: |
February 4, 2021 5:19 PM

Coal India Ltd (CIL) has signed a Memorandum of Understanding (MoU) with EESL for collaborating in the area of energy efficiency and resource conservation for de-carbonisation of Coal India, the coal PSU said in a statement.

Under the MoU, EESL will help CIL to conduct energy audits and undertake assignments to minimise losses on account of energy through financial energy service company (ESCO)/renewable energy service companies (RESCO) model.Under the MoU, EESL will help CIL to conduct energy audits and undertake assignments to minimise losses on account of energy through financial energy service company (ESCO)/renewable energy service companies (RESCO) model.

State-owned CIL on Thursday said that it has entered into a pact with Energy Efficiency Services Ltd (EESL) for reducing its carbon footprint and improving the overall operational efficiency and profitability.

Coal India Ltd (CIL) has signed a Memorandum of Understanding (MoU) with EESL for collaborating in the area of energy efficiency and resource conservation for de-carbonisation of Coal India, the coal PSU said in a statement.

This MoU will enable EESL to help CIL reduce 10-15 per cent of its annual consumption of 4,600 million units (MU) of energy.

EESL will help CIL with energy efficiency in processes along with de-centralised captive solar plants and help to improve operational efficiencies of CIL’s subsidiaries and reduce significant costs, without any upfront investment.

Under the MoU, EESL will help CIL to conduct energy audits and undertake assignments to minimise losses on account of energy through financial energy service company (ESCO)/renewable energy service companies (RESCO) model.

In the ESCO/RESCO model, the entire project cost shall be borne by EESL against the proposed energy savings project and the payment to EESL shall be monetised through energy savings.

CIL and EESL will also explore business opportunities in the field of energy efficiency, electric vehicle hiring including establishment of charging stations, solar power generation, green energy building, smart energy solutions, etc.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Altico Capital lenders sign settlement agreement with Ares SSG Capital
2Coal India ties up with 17 power plants to substitute imports
3Bitcoin’s share in global crypto market cap declined 35% in 8 years; here’s why crypto king lost ground