EESL to join hands with energy service firms to increase BEEP

22 Nov 2021 CW Team

State-run EESL said that it would join hands with private sector energy service firms to increase its Building Energy Efficiency Programme (BEEP).

In a statement, Energy Efficiency Services Limited (EESL) told the media that it is growing business models for collaborating with private sector Energy Service Companies (ESCOs) and expanding its service offerings in the BEEP, given the large market potential in the nation. BEEP is being executed since 2017, and EESL has invested about Rs 350 crore in the programme.

About 11,000 buildings have been included under this programme via the retrofitting of inefficient appliances with energy-efficient products such as EE fans, LED lights, and super-efficient air conditioners.

EESL Chief Executive Officer (CEO) Arun Kumar Mishra told the media that the partnership with private sector ESCOs is integral to its vision of scaling up BEEP's scope and enhancing the country's energy efficiency portfolio. Senior Energy Specialist, World Bank, Ashok Sarkar, told the media that the energy efficiency market in India is likely to be about USD 10 billion.

When it comes to attaining climate actions goals like net-zero by 2070, they require at least 60 times more private investment globally than what they have presently. Private sector ESCO support is the key. EESL has performed wonderfully well in the last five years; they can make it even better by operating with smaller ESCOs.

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