Andhra Pradesh government makes Energy Efficient Services Limited (EESL), a Government of India undertaking a partner in its joint venture company AP State Efficient Energy Corporation (APSEEDCO).
EESL has assured AP in bringing world class technology to the state. AP and EESL will work together to bring global companies as private equity partners for energy efficient projects implementation in AP.
It may be mentioned that, AP government formed a joint venture and special purpose vehicle (JV/SPV) to take up large scale implementation of energy efficiency projects both in public and private sectors in the State through Energy Service Companies (ESCOs).
The major objectives of the new entity is to promote energy efficiency activities, carry out investment grade energy audit for the clients, bring in necessary capital from reputed private firms and agencies for investing in energy efficiency projects in the state.
Also develop commercially viable projects for third party funding that could be implemented to capture energy efficiency opportunities, pool up the capital from debt and equity sources for taking investment grade energy efficiency projects, promote local manufacturing capacity of energy efficiency appliances and equipment and to create consumer awareness, in addition to provide energy efficiency consulting services to the consumers of AP.
Energy Principal Secretary Mr Ajay Jain informed that AP’s energy efficiency measures have been acknowledged even at the Indo-US Ministerial dialogue.
Participating in the discussions held in Washington ahead of the visit of the Prime Minister of India to US, the Minister of State (Independent Charge), Coal, Power & Renewable Energy, Mr Piyush Goyal has stated that AP has brought laurels and glory to the nation in implementation of Energy Efficiency measures.
AP State Energy Conservation Mission Chief Executive Officer Mr A. Chandra Sekhara Reddy said the JV/SPV company will take necessary steps to bring global companies with experience in energy efficiency area as equity partners in joint venture to bring in the world class technology know how in carrying energy efficiency activities in the state.