The Central government, World Bank and state-owned Energy Efficiency Services (EESL) inked USD 220 million loan agreement energy efficiency programme.
The programme will be implemented by EESL which help scale up deployment of energy-saving measures in residential and public sectors, strengthen EESL's institutional capacity, and enhance its access to commercial financing.
The USD 220 million loan, from the International Bank for Reconstruction and Development (IBRD) to Energy Efficiency Services, has a five year grace period, and a maturity of 19 years.
The investments under the programme are expected to avoid lifetime greenhouse gas emissions of 170 million tonne of carbon dioxide, and contribute to avoiding an estimated 10 GW of additional generation capacity.
The programme will help tackle financing, awareness, technical and capacity barriers faced by new energy-efficiency programmes and support Unnat Jyoti by Affordable LEDs for All (UJALA) and Street Lighting National Programme (SLNP) programmes of the government of India.
Under the programme, EESL will deploy 219 million LED bulbs and tube lights, 5.8 million ceiling fans, and 7.2 million street lights, which will be supplied by private sector manufacturers and suppliers.