Will launch bids for monetising 725,000 carbon credits soon: EESL CEO

Kapoor also talked about the contribution EESL will make in the recently announced PM Suryodaya Scheme

Energy Efficiency Services Limited (EESL) Chief Executive Officer (CEO) Vishal Kapoor tells Subhayan Chakraborty that carbon credits accumulated by the company are being used to run a key scheme to deliver 600 million LED bulbs. He also elaborated on EESL’s plans for the Centre’s ambitious PM Suryodaya Yojana. 

What is the update on the Gram Ujala project that plans to offer 600 million LED bulbs?

We financed the programme through carbon credits. We gave the bulk of 7 and 12-watt bulbs, costing Rs 80-90 at Rs 10 to rural households. For over 10 years, we have been financing the programme through carbon credits. We have already started getting carbon credits. We have almost around 725,000 verified carbon units for the first cycle, which we are about to monetise. We will be coming out with the bids shortly.

Central organisations like Delhi Metro and NHPC have used carbon credits as an add-on. We are financing it, which has risks. Projects such as the one we are doing, are impactful because they cut across energy, gender, and education. The value of the carbon credits is extremely high.

What are EESL's plans about the Centre's new rooftop solar programme PM Suryodaya Yojana?

States like Goa and Kerala and Union Territories of Chandigarh, Dadra & Nagar Haveli, and Daman & Diu were allocated to EESL for the implementation of the project. There is a lot of opportunity in the rooftop solar sector. We are looking to commoditize it since that is one of EESL's strengths. Consultations are on with power sector companies, EPC players, and consumers themselves. As soon as the government comes out with detailed guidelines, we will begin in a big way.

What is the update on the Marketplace for Energy Efficiency conceptualised by EESL?

On February 1, we launched the beta version of the energy efficiency marketplace. We will add other programmes as well. Right now, it is an e-commerce platform serving B2B and B2C. We will allow limited EESL-tested and certified products to be placed on the platform. We want to enable the market to come and sell energy-efficient products. There is no global precedence for such a platform. The full version of the website will go live before the middle of this year.

We will also update the website to serve as a knowledge dissemination tool as well as a marketplace. Our website should ultimately become a one-stop shop for anything that is energy efficient. People need to understand the importance of the total cost of ownership. While an energy-efficient programme costs more, the operating costs are less. The concept is becoming more popular among consumers in the electric vehicle space.

What lies ahead in the e-mobility space?

We will make sure that e-cycles not only become popular in villages but also a key tool for the last mile delivery by e-commerce companies. The cost of running an e-cycle is less than Rs 0.10 per kilometer. On an electric scooter, the cost is still above Rs 1 per km.