One of the leading energy auditor firms—MITCON, has now tied up with various energy saving equipment and technology suppliers and funding agencies to tap identified but untapped energy saving potential.
It aims to achieve this through ESCo which is an acronym for Energy Service Company. ESCo is a broad platform formed to deal with issues related to energy and power. Recommendations that involve high investment are overlooked due to lack of funds or lack of confidence in energy savings.
“In such situations instead of the host industry making the investment of capital expenditure for implementing the energy saving system, it will share energy savings achieved from the implementation of energy saving project with ESCo at a pre-determined rate. MITCON has tied up with various technology suppliers for this very reason,” Deepak Zade, executive vice president, energy and carbon services, MITCON Consultancy Services Limited. The company’s ESCo will partly finance these initiatives.
For this purpose, MITCON has signed MOUs with lenders, banks, financial institutions and carbon funds. The savings sharing will differ from projects to projects in an understanding stricken before hand.
Such projects are being undertaken in Pune, Pimpri-Chinchwad Municipal Corporation area, Nasik, West and Bengal in areas like buildings, water pumping, sewage pumping, street lighting and agriculture.
