EESL plans to raise $400 million debt to finance expansion

EESL plans to raise $400 million debt to finance expansion

State-owned Energy Efficiency Services Ltd (EESL) is planning to raise another $400 million from multilateral agencies and international bond markets to finance a massive expansion into rural street lighting, high-capacity energy-efficient municipal water pumps and into overseas markets, managing director Saurabh Kumar said.

EESL is scaling up its operations and is getting into new areas of business to capture what it considers a Rs74,000 crore domestic energy efficiency market, which is largely untapped. The company promoted by public sector firms in the energy sector, NTPC Ltd, Rural Electrification Corp. Ltd, Power Finance Corp. Ltd and Power Grid Corp. of India Ltd, is leading the government’s energy efficiency programme seeking to reduce carbon emissions as part of its climate change goals. Read More…




Credit By: Live Mint

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