ADB signs US$13m grant for environment facility

Energy Efficiency Services Limited (EESL) and GAIL are developing natural gas-based cogeneration and trigeneration projects in Commercial & Industrial Sectors in India.

It will benefit industries such as Hotels, Hospitals, Airports, Commercial Malls, Commercial/Government Buildings, Integrated Residential Complexes, Educational Institutions, Data Center, among others, with the advantages of Combined Heat & Power technology.

EESL and GAIL, a wholly owned subsidiary of GAIL (India) Limited, has signed a Memorandum of Understanding (MoU) during International Symposium to Promote Innovation & Research in Energy Efficiency (INSPIRE 2018).

EESL has also signed an agreement with Asian Development Bank (ADB) for a Global Environment Facility (GEF) grant of USD 13 million to establish an Energy Efficiency Revolving Fund (EERF), according to a Public Information Bureau release on 11 Nov 2018.

“Energy efficiency saves the environment and makes businesses more competitive. While India needs to grow, but we need to grow responsibly, and the Government has taken several measures in this regard.” said R K Singh, Union Minister of State for Power and New & Renewable Energy.

The Minister was speaking at the inaugural of the INSPIRE 2018 in Delhi on 11 Nov 2018. This is the second edition of INSPIRE and is being organised by EESL and World Bank.

The three-day symposium focuses on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India.

“Innovations in the field of energy efficiency are critical to meet our GHG (green-house gases) emission targets and the Government has taken several initiatives in this regard”.

INSPIRE 2018 which was organised in collaboration with the Bureau of Energy Efficiency (BEE), The Energy & Resources Institute (TERI), Asian Development Bank (ADB), the United Nations Environment Program (UNEP), and the Administrative Staff College of India (ASCI).

The event brought together policy-makers, influencers, innovators, thought leaders, researchers, leading energy-efficient companies, government agencies, business leaders and other stakeholders to deliberate on key energy policies, market transformation strategies, and sustainable business models that will help leverage the full potential of energy efficiency and bring its multiple co-benefits to the fore. Fiinews.com