EESL signs MoU with Maharashtra govt, plans to invest Rs 307 cr

- Advertisement -
- Advertisement -

State-run Energy Efficiency Services (EESL) signed an agreement with the Maharashtra government to retrofit lighting and cooling appliances in 3,000 buildings with energy efficient ones and will invest Rs 307 crore for the project.

Under the agreement, signed with the Maharashtra government’s public works department, EESL will invest Rs 307 crore for the project while the state will pay the company from the savings they accrue in their electricity bill over a period of five years.

Under this intervention EESL will install about 26,500 energy efficient air conditioners, 1.1 million LED lights and 2,50,000 ceiling fans resulting in about 120 million unit saving – which is about 48 per cent reduction from baseline consumption.

- Advertisement -

The cost savings on electricity bills out of the initiative is expected to be Rs 115 crore annually.

The project is expected to complete by 2019 and the installation of energy efficient appliances in nine PWD buildings has already been completed across cities like Mumbai, Aurangabad, Amravati, Nasik, Kolhapur, Pune, Nagpur and Maharashtra Sadan building in Delhi.

“Through the Buildings Energy Efficiency Programme, we want to bring in uniformity and obviate the need for state and Central governments to allocate capital expenditure for building upgrade. The money saved from this intervention can be used for social welfare,” EESL Chief General Manager (Technical) SP Garnaik said.

In India, the building sector accounts for approximately 30-35 percent of the total energy consumption and is growing at a rate of 8 percent annually, he said.

“We intend to invest to the tune of Rs 1000 crore covering more than 10,000 large government and private buildings in next 2-3 years,” he added. Reported the PTI.

 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...

Buzz

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Important Sectors

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...