"Government of Goa is likely to save nearly Rs 128 crore with replacement of old conventional street lights with high quality efficient LED lights, which is being done by the Energy Efficiency Services Limited (EESL)," BVG India CEO Manik Kshetrapal told reporters.
EESL is a joint venture company comprising the PSUs of Ministry of Power, Government of India and country's largest integrated service providing company, Bharat Vikas Group (BVG) India Ltd.
He said tentative date to complete the project is May 31, 2017, before monsoon.
As per Kshetrapal, over 90 per cent of street lights have been mounted on Electricity Board's concrete poles used for high tension (HT) and low tension (LT) distribution lines.
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"These poles are spaced at 40-50 metres. Due to the use of lower wattage and poor efficiency, existing lighting in Goa is not appropriate in terms of light level on roads and dark patches between poles," the BVG India CEO said.
"There are around 1.66 lakh street light fixtures in the coastal state, which would be replaced by LEDs. The tentative cost of the project is Rs 77.5 crore.
"Monthly repayments by GED (Goa Electricity Department) to EESL will be paid through savings on energy and maintenance cost. There will be net saving of around 127.96 crore to GED over a period of 10 years until expiry of warranty period," said Additional Chief Engineer, GED, N N Reddy.
Kshetrapal said general light levels have gone up by 20-40 per cent after replacing old street lighting with LED street lights.