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Andhra Pradesh lauded for energy efficiency projects

DECCAN CHRONICLE | dc correspondent

Published on: October 12, 2022 | Updated on: October 13, 2022

Andhra Pradesh stood first by submitting the highest of 16 energy efficiency financing projects (Representational image: PTI)

VIJAYAWADA: Andhra Pradesh stood first by submitting the highest of 16 energy efficiency financing projects to the Union power ministry-led Bureau Of Energy Efficiency (BEE) for its approval and funds support.

Speaking on the key strategies to reach the national-level target by 2030 at a two-day national summit organised in Goa on October 11 and 12,  the director general of BEE Abhay Bakr, emphasized the need for the states to aggressively finalise and implement state energy efficiency action plan (SEEAP). He also called for enabling the states to accelerate their energy efficiency policies. The meeting was attended by representatives from all the states.

BEE director Vineeta Kanwal said 56 energy efficiency project proposals at a total cost of `1000 crore were received by the BEE Facilitation Centre from 15 states.

She said Andhra Pradesh stood first with 16 energy efficiency financing projects and added, "I am appreciating the steps by Andhra Pradesh for identifying energy efficiency financing projects and their pro-active role in constituting a financial committee that would help the state in getting finance from local banks/non- banking finance corporations for energy efficiency projects."

CEO of AP state energy conservation mission, Chandra Sekhara Reddy, urged BEE to initiate the Interest Subvention Scheme (providing loans at lower interest rates). This, it was explained, would help in attracting many entrepreneurs from industries, especially from Micro, Small and Medium Enterprises (MSMEs) to implement energy conservation and efficiency projects.

These would help in achieving energy efficiency objectives of the state as well as the nation, he said.

Reddy requested BEE to initiate the interest subvention scheme to provide loans at low interest rates to enable stakeholders/entrepreneurs implement energy efficiency programmes in their units.