BEE and APSECM to organise investment bazaar for energy efficiency in Vizag of Andhra Pradesh

The Bureau of Energy Efficiency (BEE) in collaboration with the Andhra Pradesh State Energy Conservation Mission (APSECM) is going to organise ‘Investment Bazaar for Energy Efficiency’ programme in Visakhapatnam on November 23.

The day-long conference will see the participation of all stakeholders including financial institutions, original equipment manufacturers, energy service companies (ESCOs), and industries which will explore the ways to speed up the implementation of energy efficiency projects in the State.

In a webinar with Special Chief Secretary (Energy) K. Vijayanand on November 13 (Sunday), BEE Director General Abhay Bakre said that the BEE had potential for investments in the energy efficiency sector to the tune of about ₹13.20 lakh crore in the country by 2031, of which about ₹10.72 lakh crore could be exclusively availed by the industries, commercial and transport sectors alone.

“In a bid to tap this huge potential, the BEE has selected Punjab, Maharashtra, Telangana, Arunachal Pradesh and Karnataka and Visakhapatnam in Andhra Pradesh in the first phase,” Mr. Bakre said.

Recognising the best performance of the power sector in Andhra Pradesh in areas of energy efficiency and promotion of renewable energy sources, the BEE has decided to conduct the investment bazaar for the second time in the State, he said.

Mr. Vijayanand said that the SECM had constituted a financial committee comprising eight banks, including Union Bank of India, SBI, PNB, YES Bank, IOB, Bank of India, Central Bank of India, HDFC Bank and three non-banking financial companies (NBFCs) —NABARD, PFC, IIFL home loans— to cater to the energy efficiency projects at the State level.