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Rs. 6,000 crore to be allocated to strengthen energy efficiency in MSMEs
Vijayawada, September 15: In a bid to turbocharge energy efficiency initiatives across industries, the Bureau of Energy Efficiency (BEE- GoI) with the Support of Ministry of Power and Ministry of Finance GOI, is planning to launch an interest subvention scheme with substantial amount of Rs. 12,000 crore, of which Rs. 6,000 crore will be specifically earmarked to bolster the energy efficiency efforts of Micro, Small, and Medium Enterprises (MSMEs) and strengthen them.
Addressing a distinguished audience at the Energy Efficient Summit 2023, hosted by CII-Godrej GBC in Hyderabad, BEE's Director General, Abhay Bhakre, highlighted the scheme's goal of offering reduced-interest loans for energy efficiency projects, a collaboration between BEE, Small Industries Development Bank of India (SIDBI), and other stakeholders. Key features encompass eligibility for projects aiming at a minimum of 10 percent savings.
This initiative is seamlessly integrated into the broader BEE-SME program, spanning 35 energy-intensive SME clusters across 12 sectors. It includes adopting energy-efficient technologies, sharing knowledge, capacity building, and innovative financial mechanisms. The goals are reduced energy consumption, increased energy efficiency, lower CO2 emissions, improved profitability and competitiveness for MSMEs, and more job opportunities.
Director General Abhay Bhakre shared GOI's 2023 Energy Efficient Plan, aligning with the global low-GHG emissions and climate resilience commitment. Making appeal to CII for continued collaboration in advancing energy efficiency and sustainability efforts, Bhakre said that G20 leaders pledged to integrate low-GHG emissions and climate-resilient sustainable development, accelerating efforts in areas such as Lifestyles for Sustainable Development (LiFE) promotion and biodiversity conservation.
The GOI is preparing an Action Plan on Climate Change and Development (NDAP), in the context of G. 20 Summittargeting net-zero GHG emissions by 2050 and encompassing climate finance, technology transfer, and more. G20 leaders also reiterated support for COP26 and full Paris Agreement implementation, aiming to limit global warming to below 2°C, with a 1.5°C goal.
According to a report, BEE activities helped to save estimated energy savings of 27.75 Mtoe (3.15% of total primary energy supply) in 2021-22. Additionally, it achieved substantial electricity savings of 130.21 BU (10.82% of net consumption) and reduced CO2 emissions by 175.22 Mt (3.11% of net emissions) during the same period. "India is experiencing rapid development under Prime Minister Narendra Modi's leadership, gaining global recognition," stated Abhay Bhakre.
He emphasized BEE's commitment to promoting energy efficiency through the proposal of around 150 technologies for industries, enhancing efficiency and effectiveness.
One of BEE's key initiatives, the Perform, Achieve, and Trade (PAT) scheme, regulates energy consumption in energy-intensive industries. Covering 13 sectors and 1073 designated consumers, it mandates energy efficiency targets and annual consumption reporting. The scheme's success is seen in projected energy savings of about 26 MTOE and a 70 million-tonne CO2 reduction by March 2023. It also rewards those exceeding targets with energy-saving certificates (ESCerts) for trading with others who fall short.
Director General of BEE, Abhay Bakre, hails Andhra Pradesh for pioneering energy efficiency through India's first Invest Bazar in Visakhapatnam, a collaboration with BEE. The event introduced a specialized Interest Subvention Scheme for the industrial sector.
Bakre proudly declares that Andhra Pradesh has clinched the top spot in attracting energy efficiency investments, amassing an impressive Rs. 430 Crore. This achievement shines brightly in comparison to the national investments exceeding Rs. 2500 Crore.
BEE will support Andhra Pradesh in harnessing the latest energy-efficient technologies to enhance efficiency, reduce environmental impact, and stimulate economic growth.
At the Energy Efficient Summit 2023 in Hyderabad, Venkatagiri, executive director of CII, praised BEE and EESL's relentless pursuit of energy efficiency. He commended BEE and EESL's remarkable achievements and urged them to intensify efforts in promoting industrial energy efficiency, emphasizing its broader importance in energy conservation.
During the event, on behalf of CEO EESL Vishal Kapoor.., A Chandrasekhara reddy an advisor from EESL ( South) presented a report showcasing the tangible impact of energy efficiency measures on the economy and climate change, underscoring the significance of Andhra Pradesh pioneering efforts in the field.. EESL have accepted the proposal of Housing dept in implementing Energy Efficiency Project in Jagananna Colonies with cost effective methods and show case the same in the country, he said.
The EESL Advisor for South India and Union Territories has revealed plans for potential energy-efficient projects in collaboration with the Andhra Pradesh government. These projects aim to promote energy efficiency in various sectors, including housing, agriculture, MSMEs, and municipalities etc.
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