State-run Energy Efficiency Services today entered an agreement with IIFC Projects Ltd under which the latter will act as a financial and technical advisor to diversify and expand the business portfolio of EESL.
"Under the partnership, IIFC Projects Ltd (IPL) will provide EESL with debt syndication services, business development, capacity development services and project management services, in order to facilitate better and faster adoption of products of Energy Efficiency Services Ltd (EESL)," a press statement said.
IPL will also assist EESL in ideation, create market for new product lines to enhance the business potential of EESL, and modify and develop new strategies for both existing and new product lines.
EESL is a joint venture set up by the power ministry comprising four public sector undertakings-NTPC, PFC, REC and Power Grid - for implementation of energy efficiency projects in the country.
"This Memorandum of Understanding marks an important step towards our commitment to energy efficiency and tapping potential in every possible sector in the country," EESL MD Saurabh Kumar said.
"We look forward to working more closely with IIFCL and we are very confident that their expertise will help EESL to achieve newer heights," he said.
IPL is promoted by India Infrastructure Finance Company Ltd(IIFCL), a PSU established with the main objective of channelising long-term finance to viable infrastructure projects.
IPL has an objective of providing end-to-end solution and services for all kinds of infrastructure projects.
