Investment Bazaar in Vizag on Nov 23

Vijayawada (NTR District): As a significant step towards aggressively promoting energy conservation and energy efficiency investments in Andhra Pradesh, the Bureau of Energy Efficiency, led by the Union Ministry of Power, has chosen Visakhapatnam to conduct 'Investment Bazaar for Energy Efficiency' to accelerate and facilitate financing of energy efficiency projects and technologies in industrial sector of the State with the support of Andhra Pradesh State Energy Conservation Mission (APSECM) under State Energy department.

The one day conference of Investment bazaar will be conducted in Visakhapatnam on November 23 by Bureau of Energy Efficiency, Government of India in coordination with APSECM, in which all the stakeholders, including financial institutions, original equipment manufacturers, energy service companies (ESCOs), and industries will take part and explore the ways to speed up the implementation of energy efficiency projects in the State.

Disclosing the above development, during a webinar on the occasion of forthcoming investment bazaar conference with Special Chief Secretary, Energy, K Vijayanand and officials of APSECM, Director General of BEE Abhay Bakre said that the BEE has estimated more than Rs 13.20 lakh crore ambitious energy efficiency investment potential would be available in country by 2031 out of which about Rs 10.72 lakh crore of investment potential would be exclusively availed in the industries, commercial and transport sectors alone.

"To tap this huge energy efficiency investment potential in the country, BEE has selected Punjab, Maharashtra, Telangana, Arunachal Pradesh and Karnataka including Visakhapatnam in Andhra Pradesh in the first phase" said DG BEE.

The DG also said that BEE has taken an initiative of Energy Efficiency Financing Platform (EEFP) to upscale energy efficiency financing in India by providing a platform where Financial Institutions (FIs) can interact with industries for financing and implementation of energy efficiency projects, technologies and appliances.

He said the main objective of the conference is to bring all the stake holders of the 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 best practices in Energy Efficiency and financing options for Energy Efficiency Projects. "The Investment Bazaar is a conference which provides a one-stop platform for all stakeholders to interact with each other" DG BEE said.

Special Chief Secretary for energy Andhra Pradesh, K Vijayanand said that the APSECM is ready to promote financing in energy efficiency projects and seeking energy efficiency proposals from various stakeholders and carry out technical appraisal of EE projects and based on technical viability, it will recommend the project to the FIs committee for financing such EE projects.