Union Minister of State (IC) for Power, Coal and New & Renewable Energy and Mines, Piyush Goyal will launch and extend Energy Efficiency Services Limited (EESL) affordable lighting scheme – UJALA (UK Joins Affordable LEDs for All) to consumers in UK.
Goyal is visiting Austria and United Kingdom from 10th to 13th May 2017 for an Energy Dialogue with both the countries.
With a aim is to create space in Uk’s 6.4billion pounds energy efficiency services market and to implement low-carbon, energy efficiency and renewable energy solutions in both public and private sectors, the Minister on May 13th will formally announce state run EESL’s investment of 100 million pounds in the UK over the next 3 years.
It is worth noting that EESL has already begun its operation in UK following acquisitions, worth £6.8m, of two operating companies running Energy Savings Performance Agreements in Education and Leisure sectors. The acquisition is effected by EPAL, a JV of EESL and EnergyPro Limited, an advisory company specializing in Energy Efficiency.
During his visit, Goyal will unveil EPAL’s branding during the event.
EESL will also formalize its collaboration with Cenergist to strengthen its LED pipeline and will be signing three MoUs with the High Commission of India at London, Cenergist and Calvin Capital respectively.
Indian Electrical and Electronics Manufacturers Association (IEEMA) will also sign a Memorandum of Understanding with British Electrotechnical & Allied Manufacturers’ Association (BEAMA) on the occasion.
The Minister, who is accompanied by senior officers of Ministry of Power on this four day tour, will also participate in an Investors Meet organised by Federation of Indian Chambers of Commerce & Industry (FICCI) and the Austrian Federal Economic Chamber (WKO) on 10th May 2017.
He will deliver a key note address at Vienna Energy Forum 2017 on Thursday, 11th May, 2017, after which he will be having dialogue with Director General of United Nations Industrial Development Organisation (UNIDO) to explore prospects of better business opportunities in the energy sector.
Goyal will also participate in a Ministerial Panel Discussion on ‘2030 Development Agenda for Energy’, focusing on the SDG7: Energy Access, Energy Efficiency and Renewable Energy. He will also talk about International Solar Alliance and RE Invest on the occasion.
On 12th May 2017, apart from regular business meetings, Goyal will be participating in U.K- India Business Roundtable on Energy organised by FICCI and UK Trade & Investment (UKTI) in London.
The Minister will also witness the listing of NTPC’s bonds at London Stock Exchange on the same day.
NTPC is a fairly regular issuer of Offshore medium-term notes (MTN). The current issuance is the second Masala Bonds offering by NTPC within a 12 months period.
The first Masala Bonds issuance in August 2016 was for Rs. 2000 crores (~ US$ 300 million) as is the current one (~US$310 million). Both the Masala Bonds are of 5 years tenor. The latest Masala Bonds 2017, carry a coupon of 7.25% payable annually with reoffer yield of 7.28% (tightest yet by any Indian Issuer). NTPC Masala Bonds would be the 1st MTN and 1st Masala Bonds to list on the new International Securities Market (ISM).