World Bank approves Rs 2,040 crore assistance for India’s energy efficiency program


World Bank approves Rs 2,040 crore assistance for India’s energy efficiency program

The World Bank today announced it has approved a Rs 2,040 crore (US $300 million) assistance to help scale up India’s energy efficiency program. This includes Rs 1,496 crore of loan and additional Rs 544 crore to be provided as guarantee for projects.

To be implemented by the Energy Efficiency Services Limited (EESL), the program will help scale up the deployment of energy saving measures in residential and public sectors, strengthen EESL’s institutional capacity and enhance its access to commercial financing, an official statement said.

India’s climate change commitments to reduce carbon intensity by 33-35 percent by 2030 from 2005 level will require a significant focus on energy efficiency improvements.

The investments under the program are expected to avoid lifetime greenhouse gas emissions of 170 million tons of CO2 and contribute to avoiding an estimated 10 Gigawatt (Gw) of additional generation capacity. Read More

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