State-run EESL today said it has signed an MoU with National Energy Services Company of Saudi Arabia to implement energy efficiency programmes and scale-up demand side measures.
The MoU was signed by Waled Alghreri, Chief Executive Officer, National Energy Services Company and Saurabh Kumar, Managing Director, EESL, a company statement said.
As per the pact, EESL will provide consultancy and expand the capacity of National Energy Services Company, which is instituted by Saudi Arabia, to execute energy efficiency programmes.
The agreement comes in the wake of the Arab Kingdom working ardently towards reducing its power subsidies and introducing energy efficiency initiatives.
With rapidly increasing population coupled with soaring energy prices, the electricity demand of Saudi Arabia is growing at a rapid pace.
According to the estimates made by World Bank, the electricity generated in Saudi Arabia completely relies on non-renewable sources like oil, gas and coal.
Keeping this in mind, the National Energy Services Company has engaged with EESL to replicate the success of latter's street lighting national programme and retrofit of buildings, with energy efficient appliances in Saudi Arabia.
EESL has also agreed to depute its officials in Saudi Arabia to provide technical and financial consultancy and monitor the execution of energy efficiency projects.
EESL is working towards promoting energy efficiency in all sectors and is implementing the world's largest energy-efficiency portfolio (worth GBP 5.6bn over a period of 3 years), marking a 20-fold growth.
So far, EESL has retrofitted over 23 crore LED bulbs and 20 crore smart LED streetlights across India through self- sustaining commercial models.
As of now, EESL has begun its operations in UK, South Asia and South-East Asia.
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