Energy Efficiency Services Limited (EESL) stated “it’s growing enterprise fashions for collaborating with personal sector Energy Service Companies (ESCOs) and broadening its service choices within the BEEP, in view of the massive market potential within the nation.”

State-run EESL on Thursday stated it can partner personal sector energy service corporations to scale up its Building Energy Efficiency Programme (BEEP).

In a press release, Energy Efficiency Services Limited (EESL) stated “it’s growing enterprise fashions for collaborating with personal sector Energy Service Companies (ESCOs) and broadening its service choices within the BEEP, in view of the massive market potential within the nation.”

BEEP is being applied since 2017 and to date EESL has invested round Rs 350 crore within the programme.

Around 11,000 buildings have been coated below this programme by way of the retrofitting of inefficient home equipment with energy-efficient merchandise like LED lights, EE followers, and super-efficient air conditioners, the corporate stated.

EESL Chief Executive Officer (CEO) Arun Kumar Mishra stated the partnership with personal sector ESCOs is integral to its imaginative and prescient of scaling up BEEP’s scope and enhancing the nation’s energy effectivity portfolio.

Ashok Sarkar, Senior Energy Specialist, World Bank, stated, “The energy efficiency market in India is estimated to be around USD 10 billion. So far, the contribution of ESCOs has been very small. When it comes to achieving climate actions goals like net-zero by 2070, we need at least 60 times more private investment globally than what we have today.”

“Private sector ESCO support is the key. EESL has done wonderfully well in the past five years; we can make it even better by working with smaller ESCOs,” Sarkar added.