State-run Energy Efficiency Services Ltd (EESL) is looking to generate Rs 6,000-crore business and also aiming to retrofit 15,000 state-owned buildings with energy-efficient solutions in the next three years.
State-run Energy Efficiency Services Ltd (EESL) is looking to generate Rs 6,000-crore business and also aiming to retrofit 15,000 state-owned buildings with energy-efficient solutions in the next three years. The EESL would have the first mover advantage because it is the only firm providing complete energy-efficient solutions for different kinds of structures and buildings in the country. “There are around 15,000 buildings which are either owned by states, centre or public sector undertakings. There is a huge business opportunity of around Rs 6,000 crore as all of these require energy-efficient solutions,” EESL Managing Director Saurabh Kumar told PTI. “Since we are the only company providing energy-efficient solutions in the country, we are targeting this Rs 6,000 crore business opportunity in the next three years,” he added.
The EESL has already concluded energy-efficient projects in 28 buildings and is working on energy efficient interventions for over 200 other government and private buildings across India. The firm has already inked a pact with Maharashtra to provide complete energy-efficiency solution to 1,500 buildings under the power works department in 2017. Besides, it would also retrofit 1,000 railway stations with energy-efficient appliances. Kumar said the EESL is in an advance stage of discussion with Odisha for retrofitting its 1,000 buildings. In private sector, it is in talks with Mahindra & Mahindra for providing energy-efficient solutions for its around 50 buildings and offices. Earlier this month, Power Minister Piyush Goyal had launched Energy Conservation Building Code 2017 which mandates minimum energy savings of 25 per cent.
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With the adoption of ECBC 2017 for new commercial building construction throughout the country, it is estimated to achieve a 50 per cent reduction in energy use by 2030. This will translate to energy savings of about 300 billion units by 2030 and peak demand reduction of over 15 GW in a year. This will be equivalent to expenditure savings of Rs 35,000 crore and 250 million tonnes of CO2 reduction. Kumar said, “The EESL has planned to raise Rs 2,000 crore this fiscal including Rs 800 crore via masala/green bonds. The company’s turnover for last fiscal was Rs 1,200 crore. We are targeting Rs 2,500 crore turnover this fiscal.”
About the EESL’s plans to procure 1 lakh super energy efficient air conditioners, Kumar said, “We have done that. The AC is procured at a price of Rs 35,000 per unit which would be supplied under these energy efficient projects at a rate of around Rs 52,000 per unit. Around 50,000 ACs would be supplied under ongoing building projects.” On retailing these ACs to households, Kumar said, “At present, we would have to meet the demand of our energy efficiency building projects. We have no plans of retailing this super efficient ACs as of now.”