Enigin Update - India's SMEs to get Energy Efficiency Support
THE SMALL Industries Development Bank of India (SIDBI) and the Indian Bureau of Energy Efficiency (BEE) have signed a Memorandum of Understanding on energy efficiency technology and actions.
Currently, both organisations are the co-implementing agencies preparing a World Bank funded project titled “Financing Energy Efficiency at MSMEs”. The project will be supported by a grant from the Global Environment Facility (GEF). The main objective of the project is to improve efficiency and reduce Green House Gas (GHG) emissions through commercial investments in energy efficiency goods and services in target Micro, Small and Medium Enterprise clusters.
According to The Times of India the country’s potential energy efficiency market is estimated at over $3.1 billion, with the majority of this potential within the SMEs, with some 3 million delivering 60 percent of India's Gross Domestic Product.
SIDBI Chairman and Managing Director Sushil Muhnot told the Times: "We have partnered with the BEE to develop an integrated approach with financial support to eligible proposals for adopting energy efficient technologies and measures."
The proposed project will facilitate energy efficiency improvement through capacity building in MSME clusters, plus the provision of grant support for preparing investment grade proposals for energy efficiency improvements.
In addition to reductions in direct energy consumption, the implementation of potential energy efficiency improvements can produce additional positive environmental impacts from reduced combustion of fossil fuels.
Cutting edge energy efficiency technology from Enigin is available in India, and elsewhere, through the global network of Enigin Distributors.
Picture of India Gate, New Delhi by ZeePack reproduced under the Creative Commons License.
