 "green energy")
Global Green Growth Institute and Energy Efficiency Services Ltd (EESL) will collaborate to implement the Asia Low Carbon Buildings Transition (ALCBT) project in India.
With the Ministry of Housing and Urban Affairs (MoHUA) as the nodal ministry, the strategic initiative aims to combat the unprecedented surge in peak electricity demand in the country, primarily propelled by the escalating need for cooling solutions, according to a statement.
Germany through its Federal Ministry for Economic Affairs and Climate Action (BMWK) is funding the project under the International Climate Initiative (IKI).
EESL in collaboration with the Global Green Growth Institute (GGGI), an international inter-governmental organisation, has announced the launch of the ALCBT project in the country.
They will undertake a range of activities to address the pressing challenges associated with the surging demand for electricity in the building sector.
One of the key components of the ALCBT project implementation across three states -- Kerala, Haryana and Uttar Pradesh -- involves the assessment of 400 buildings (200 old and 200 new) in Kerala; 600 buildings in Haryana (400 old and 200 new); and 600 buildings in Uttar Pradesh (400 old and 200 new).
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Additionally, 20 energy efficient cooling retrofits will be deployed in each of the three states.
The Haryana Renewable Energy Development Agency (HAREDA), the Department of Environment, Forest & Climate Change (DoEF&CC), and the Energy Management Center (EMC) are actively supporting the project to ensure its effective implementation within their respective provinces.
Vishal Kapoor, Chief Executive Officer of EESL, said a key focus includes retrofitting air-conditioning systems in 60 Indian buildings.
Helena McLeod, Deputy Director-General, and Head of the Green Growth Planning & Implementation (GGP&I) at the Global Green Growth Institute, said India is facing an unparalleled surge in peak electricity demand, predominantly driven by the escalating need for cooling solutions. "The ALCBT Project is a crucial step towards aligning our building practices with global sustainability goals."
The project aims to achieve a significant reduction of 1.2 million TCO2eq (tonnes of CO2 equivalent). The GGGI will mobilise a substantial 140 million euros in all five countries, including India, for low-carbon building projects through innovative mechanisms.
The project pipeline includes a corpus of 100 million euros for developing a low carbon project pipeline using MRV tools/taxonomy.
Another 20 million euros will be raised through proposals to leverage climate funds. The remaining 20 million euros will be mobilised through private ESCOs (Energy Serving Companies).
(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.)
