Page 46 - 15JAN2020E-1

Why the country is

expanding energy

efficiency investment?

lion loan to EESL, a public sector energy and electric vehicles will help reduce
tehelka bureau service company, in 2016 for Demand electricity network losses and reduce
Side Energy Efficiency Sector Project greenhouse gas emissions.
that focused on efficient lighting and Talking about the deal, Yokoyama said
lobal demand for energy appliances. The signatories to the loan that this is one of the few ADB projects
continues to rise, led by de- agreement were Sameer Kumar Khare, specially focused on demand-side ener-
veloping countries such as Additional Secretary (Fund Bank and gy efficiency targeting upstream efficien-
India and China, which in- ADB), Department of Economic Affairs in cy opportunities and business models
G dicates an expanding global India’s Ministry of Finance, and Kenichi that can be scaled up in India and other
economy. In was in this connection that Yokoyama, Country Director of ADB’s ADB developing member countries. The
India signed a $250 million loan deal India Resident Mission, signed the agree- project’s smart metering component will
with the Asian Development Bank (ADB) ment for EESL. help address billing and collection inef-
on December 16, 2019. Khare said after the loan signing that ficiencies. EESL will also explore busi-
The $250-million loan to Energy Effi- the project is expected to contribute to ness models to generate greater public
ciency Services Limited (EESL) to expand the mission of Government of India to demand for e-vehicles to support India’s
energy efficiency investments in India promote energy efficiency and meet current push for electric vehicles.
will benefit agricultural, residential and Government’s commitments to reduce Promoting awareness of the benefits
institutional consumers. In addition, $46 energy intensity of the economy. Further of using energy efficient technologies is
million financing will be provided from elaborating on the issue, he said, intro- another feature of the project. Aware-
the Clean Technology Fund (CTF), to be duction of energy-efficient technologies ness campaigns will engage local or-
administered by ADB. in eligible states including smart meters, ganizations in knowledge-sharing and
ADB previously approved a $200 mil- distributed solar photovoltaic systems training, with a focus on women elec-

46