 Four public sector units under the power ministry has come together to form a joint venture company to promote the business of energy efficiency. Power Finance Corporation, Rural Electrification Corporation, NTPC and Power Grid Corporation of India, on November 19, 2009, entered into a agreement incorporating a joint venture company, Energy Efficiency Services Ltd. Each of the four promoting PSUs will hold 25 per cent equity.
EESL will carry out and promote the business of energy efficiency, energy conservation and climate change. With an equity base of Rs.190 crore, the new company will have targeted annual revenues of Rs.700 crore by promoting companies working in the area of energy efficiency. EESL would promote energy efficiency projects such as Bachat Lamp Yojana, Agricultural Demand Side Management and Municipal Demand Side Management.
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