The Energy and Resources Institute (TERI) and Energy Efficiency Services Limited (EESL) have entered into a strategic partnership for two years. The MoU was signed by the two parties on June 29, 2016 in the presence of Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy.
As per MoU, both organisations have decided to enter into an agreement as strategic partners, to work jointly for the achievement of common goals and objectives related to energy efficiency in India and abroad.
Piyush Goyal commented, “This alliance of simultaneous policy and market development will provide a larger platform to boost the national energy efficiency programmes in international markets. This collaboration is an ambitious step towards achieving environment sustainability which is the need of the hour.”
With this partnership, the main focus of TERI will be on working with governments, regulatory bodies, industry organisations, and utilities to create a policy environment for clean energy technologies. EESL will emphasise on implementing projects and programmes to promote clean energy technologies through innovative policy based business model to end users. The agreement will also bring in people and institutions who work on the policy side into the market based interventions. It will also enable cross country and global linkages so that there is an exchange of information and replication of interventions.
The collaboration will provide comprehensive turnkey solutions where TERI will use its expertise to create energy efficiency projects through audits, etc and EESL will bring in its business models to implement them.
This model of collaboration will primarily be used in countries of Africa and East Asia and will further investigate its use in Latin America and other developing countries. In developed nations like Europe and the US, the role of TERI will be to create market awareness about the business opportunities that EESL can potentially unlock.