BEE to launch `12,000 cr low-interest loan scheme
image for illustrative purpose
Hyderabad: In a bid to boost energy efficiency initiatives across industries, the Bureau of Energy Efficiency (BEE- GoI) with the Support of Ministry of Power and Ministry of Finance, Government of India, is planning to launch an interest subvention scheme at Rs 12,000 crore, of which Rs 6,000 crore will be earmarked to bolster the energy efficiency efforts of Micro, Small, and Medium Enterprises (MSMEs).
Addressing the Energy Efficient Summit 2023, hosted by CII-Godrej GBC in Hyderabad, BEE’s Director General, Abhay Bhakre, highlighted the schemes goal ofoffering reduced-interest loans for energy efficiency projects, a collaboration between BEE, Small Industries Development Bank of India (SIDBI), and other stakeholders. The key features include eligibility for projects aiming at a minimum of 10 per cent projected energy savings.
This initiative is integrated into the broader BEE-SME programme, spanning 35 energy-intensive SME clusters across 12 sectors. Director General Abhay Bhakre shared India’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.
According to a report, BEE activities helped to save estimated energy savings of 27.75
Mtoe (3.15 per cent of total primary energy supply), in 2021-22. Additionally, it achieved substantial electricity savings of 130.21 BU (10.82 per cent of net consumption) and reduced
CO2 emissions by 175.22 Mt (3.11 per cent of net emissions) during the same period. “India is experiencing rapid development under Prime Minister Narendra Modi’s leadership, gaining global recognition,” Bhakre stated.
A Chandrasekhar Reddy, EESL Advisor-South India, shared the report on the impact of Energy Efficiency on Enhancing Economy in CII National Summit with BEE DG Abhay Bhakre; Dr Ashok Kumar, Deputy DG, BEE and Ravichandran Purushottam, Chairman, Energy division, Hyderabad, were also present.
Reddy lauded Hyderabad’s leadership and commitment in energy efficiency retrofitting around 5.3 lakh LED streetlights, a GHMC major initiative, with the support of EESL, which is expected to save 227.88 million kWh annually, reducing peak demand by 56.75 MW.
“Hyderabad, which is considered as one of the major cosmopolitan cities of the world and growing rapidly on the economic front, offers huge potential for energy efficiency,” Reddy pointed out.
BEE and EESL drive India’s energy efficiency, fostering sustainability, combating climate change, and yielding economic benefits, he added
According to Chandrasekhar Reddy, EESL and Union Ministry of is putting all out efforts to make energy efficiency programmes of Telangana a grand success especially GHMC energy efficiency street lighting programme, to ensure substantial energy savings and to provide better services for general public.
