'Power sector needs careful nurturing'

The power sector is a critical area which requires careful nurturing if the GDP target of eight per cent growth is to be achieved, according to Anil Kumar V Epur, chairman of the Integrated Environmental Strategies (IES) outreach campaign.

Speaking at the valedictory function of the Energy Management Awards-2004, he said that the power sector ranks high on the country's priority list as it is showing good growth and also offers tremendous potential for investments and new business opportunities.

"The industry welcomes the initiatives taken by the government to make the sector more attractive for investments," Epur said.

According to him, the overall energy savings identified by the CII-Godrej GBC (Green Business Centre) and the 21 companies, that were shortlisted for the award, constitutes an annual saving of Rs 4 crore.

"The companies have realised an annual savings of Rs 60 lakh with an investment of Rs 15 lakh having a payback period of three months," Epur said.

He said that it was estimated that 3,300 tonnes of carbon savings and 12,000 tonnes of carbon dioxide savings would be achieved by implementing the energy saving measures.

This year, Dr Reddy's Labs' Generics Division, ITW Signode and Shantha Biotechnics were adjudged for the Energy Management Award for energy efficiency in the Integrated Environmental Strategies Outreach Programme.

Speaking about the awards, G Jayaraman, vice-chairman Institute for Sustainable Development and Research, said: "The award is open to all companies in the twin cities with an annual energy bill of over Rs 15 lakh."

He said that 20 companies submitted proposals out of which eight companies were shortlisted for making presentations. The other companies which made presentations were Dr Reddy's Labs' Bulk Activities Unit, VST Industries, Ravi Foods Private Limited, Eveready India Limited and Tecumseh.

"These three companies have a good chance to compete for the national awards, which would be held in October. Though it is through a separate process of entry, they stand a good chance of competing with the industry majors," he said.