Visakhapatnam: As an important step towards aggressively promoting energy conservation and energy efficiency investments in the State, the Andhra Pradesh State Energy Conservation Mission (APSECM) set up an Investment Bazaar in Visakhapatnam on Tuesday.

With an aim to accelerate and facilitate financing of energy efficiency projects and technologies in the industrial sector of the State, the Investment Bazaar was held.

Speaking on the occasion, the Chairman & Managing Director of APEPDCL Immadi Prudhvi Tej said that Energy Efficiency Financing Platform (EEFP) helps to upscale energy efficiency financing in the State by providing a platform where financial institutions (FIs) can interact with industries for financing and implementation of energy efficiency projects, technologies and appliances.

Further, Prudhvi Tej said that as per AP Energy Efficiency Action Plan, the APSECM in coordination with various departments should make efforts and contribute towards tapping the energy efficiency investment potential available in the State to the tune of around Rs 8,000 crore by 2031 in the sectors of industries, commercial transport and other sectors.

APEPDCL Director (Finance) D Chandram, APSECM officials, among others participated.

APSECM identified 34 energy efficiency projects so far with investment potential of around Rs 408 crore in Andhra Pradesh.