EEP- Energy Efficiency Program - Seeker's Thoughts

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EEP- Energy Efficiency Program



Energy efficiency policies and programs can help drive the implementation of projects that minimize or reduce energy use during operation of a system or machine and production of good and service. It is for improving energy efficiency and helping customers control their energy bills.  Innovative business and implementation models can significantly reduce consumption and costs.
Energy Efficiency Services Limited? (EESL)

EESL is and energy service company of the government of India and is the world’s largest energy service company. It is 100% government owned a, joint venture of state-owned NTPC limited, power finance corporation, rural Electrification Corporation and POWERGIRD. EESL was formed under India’s ministry of power to facilitate energy efficiency projects. EESL also acts as the resources centre for capacity building of state electricity distribution companies, electricity regulatory commissions.

Why it is in news?
Indian finance ministry has inked 220$ million loan agreement with world bank to boost up India’s Energy Efficiency program. It also signed 80$ million guarantee agreement with world bank.

The loan will be provided to ESSL by world bank through its lending arm international bank of reconstruction and development (IBRD).

World Bank – the world bank was established was established in 1944 post world war II. It is an international financial institution that provides loans to countries of the world capital projects. It comprises two institutions: The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

Key Features of the Program- EEP

1 – It will create sustainable markets for LED lights and energy efficient ceiling fans.
2- It will facilitate well- structured and scalable investments in public street lighting.
3- it will also develop sustainable business models for emerging market such as super-efficient air conditioning and agriculture water pumping systems.
4- it will strengthen institutional capacity of EESL.
5- it will increase private sector participation in energy efficiency, including private sector energy service companies.

Benefits
The world bank investment under this program is expected to avoid lifetime greenhouse gas emission of 170 million tonnes of CO2. It will also contribute to an estimated 10GW of additional generation capacity. 
This will help to achieve 50% of National Mission for Enhancing Energy Efficiency target of 19.6GW indicated in India’s Nationally Determined Contribution (NDC) under 2015 Paris Agreement (India has committed to reduce carbon emission by 33-35% by 2030 under (NDC). 
Thus, EEP will certainly help India to move further towards a more resource-efficient growth. It will help in tackling financing awareness; technical and capacity barriers faced by new energy efficiency programs and support India’s flagship comprehensive programme UJALA Unnat Jyoti by Affordable LEDs for All.

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