KfW signs loan agreement with EESL
KfW on behalf of the German Ministry for Economic Cooperation and Development (BMZ) has signed a loan agreement in the amount of EUR 200 million with Energy Efficiency Services Limited (EESL).
EESL will use the development funds to invest in energy efficiency measures for private households, public buildings, street lights (LED technology), water supply systems, agriculture (replacing pumps) and industry. EESL also offers its customers an array of other services to help save energy.
Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group, said, “The plans will lead to major reductions in CO2 emissions for the world’s third largest energy consumer and producer of greenhouse gases. With this innovative business model, India is breaking new ground when it comes to promoting large-scale investments in energy efficiency, making it a global pioneer in this field.”
This project follows on from the ‘Energy efficiency in public buildings and infrastructure’ programme, which helped to save around 600,000 tonnes of CO2 per year by successfully executing the Domestic Efficient LED Lighting Programme (DELP). This saving corresponds to emissions from approximately 70,000 Indian households.
Overall, the Federal Republic of Germany has committed EUR 600 million for energy efficiency measures in India, including the EUR 50 million for EESL in 2014.
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