 "non fossil fuel, climate change, renewable energy, green fuel")
State-owned Energy Efficiency Services Ltd (EESL) on Thursday said it has inked five initial pacts with partners to boost energy efficiency and renewables in the country, aligning with G20 and COP28 commitments.
These initiatives are poised to double energy efficiency and triple renewable energy, in line with the ambitious targets set at COP28 and G20, an Energy Efficiency Services Ltd (EESL) statement said.
According to the statement, EESL, a joint venture of public sector undertakings under the administration of the Ministry of Power, has signed memorandum of understanding (MoUs) with strategic partner organisations.
EESL Chief Executive Officer Vishal Kapoor said, "The commitment we are making through these MoUs is crucial for not only support in meeting our Nationally Determined Contributions but also for contributing to the global effort in achieving the goals set at COP28".
Collaborations like these are crucial imperatives for us to actively contribute to the goal of doubling the rate of energy efficiency and tripling the rate of renewable energy, he stated.
India has made significant progress in these sectors. As the nation climbs the socio-economic ladder, it will be pivotal for our business models to be people-oriented, he said.
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Energy efficiency has rightly been called the first fuel, and the only way to amplify its impact is by making it available to people at the bottom of the pyramid, he pointed out.
Erik Solheim, former under-secretary general of the United Nations and former minister of Environment and International Cooperation, Norway, said, "The world has moved from the choice of environment or development to environment and development. Asia is the driving force of global economic growth and also leading the world in the space of renewable energy and energy efficiency".
Through collaborative efforts, EESL is forging impactful partnerships with leading organisations to drive sustainable energy solutions and climate action.
Under the MoU with Green TERRE Foundation EESL collaborated with the foundation to propel a movement 'U75: Net-Zero University Campus'.
Seventy-five educational institutes join the initiative to transform campuses into carbon-neutral hubs, advancing energy efficiency and clean energy.
This movement not only aims for local impact but also catalyses India's Nationally Determined Contributions (NDCs).
Under the MoU with TERI for partnership development, both entities join forces to identify collaboration areas in energy efficiency and clean energy.
The partnership encompasses prioritising policies, technical studies, large-scale program implementation, and training.
This collaboration focuses on capacity building, knowledge product development, and joint fundraising proposals, emphasising coordination activities for effective implementation.
Under the MoU with Hindware Ltd, it will implement energy efficiency measures at Hindware facilities.
The collaboration centres on achieving energy savings, creating awareness, and contributing to sustainability and decarbonisation. This partnership underscores the mutual commitment to work together on common goals related to energy efficiency services.
Under the MoU with C K Birla Group of Companies, EESL partners with Orient Paper and Industries Limited and Orient Cement Limited for energy efficiency and clean energy initiatives.
The collaboration includes the implementation of energy-efficient technologies identified under the Demonstration of Energy Efficiency Project (DEEP) and other energy-efficiency projects.
The focus extends to capacity building, technical studies, and coordination activities for effective project execution.
Under the MoU with GGGI and HAREDA on the ALCBT Project, the entities will embark on the Asia Low Carbon Buildings Transition (ALCBT) project under the Indo-German Energy Programme.
This initiative aims to assess and align project objectives with Haryana's climate action priorities, map state-level agencies, develop an enabling ecosystem through policy measures, and strengthen institutional capacity for scaling up low-carbon buildings. ALCBT has signed a similar MoU with MCA Kerela.
These strategic collaborations reaffirm EESL's commitment to driving sustainable energy solutions, fostering environmental stewardship, and contributing to a resilient, low-carbon future, the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
