Andhra Pradesh: ‘Investment Bazaar for Energy Efficiency’ in Vizag on Nov 23

VIJAYAWADA: In a significant step towards promoting energy conservation and energy efficiency investments in Andhra Pradesh, the Bureau of Energy Efficiency (BEE) has chosen Visakhapatnam to conduct ‘Investment Bazaar for Energy Efficiency’ to accelerate and facilitate the financing of energy efficiency projects and technologies in the industrial sector with the support of the AP State Energy Conservation Mission (APSECM).

The one-day conference of Investment Bazaar will be conducted in Visakhapatnam on November 23, in which all the stakeholders, including financial institutions, original equipment manufacturers, energy service companies (ESCOs) and industries will take part and explore ways to speed up the implementation of energy efficiency projects in the State.

Disclosing details during a webinar on the Investment Bazaar conference with Special Chief Secretary (Energy) K Vijayanand and APSECM officials, BEE Director General Abhay Bakre said they have estimated more than Rs 13.20 lakh crore energy efficiency investment potential in the country by 2031 and out of which Rs 10.72 lakh crore investment potential will be exclusively availed in industries, commercial and transport sectors alone.

The main objective of the conference is to bring all the stakeholders of energy efficiency such as industries, MSMEs, original equipment manufacturers, financial institutes, energy service companies ( ESCOs), government officials, etc under one platform to deliberate and share the best practices in energy efficiency and financing options for energy efficiency projects.

“The Investment Bazaar provides a one-stop platform for all stakeholders to interact with one another,” he explained.

Vijayanand said the APSECM is ready to promote financing in energy efficiency projects and sought energy efficiency proposals from various stakeholders to carry out a technical appraisal of the projects and based on technical viability, it will recommend the project to the financial institutes for financing the energy efficiency projects.