The Global Environment Facility (GEF), an international partnership focussed on addressing global environmental issues, has partnered with Energy Efficiency Services Limited (EESL) for the project ‘Creating and Sustaining Markets for Energy Emciency, under its GEF – 6 cycle to further impetus on the implementation of EE in India. The GEF-6 project aims to mitigate around 60 million tons of CO2 eq by 2032 by deployment of various energy efficient technologies.
Working with an aim to overcome the existing barriers of implementation of energy efficiency in the Indian MSMEs, the project “Promoting Market Transformation for Energy Efficiency in Micro, Small & Medium Enterprises” which was formally launched by hon’ble MSME Minister Shri. Giriraj Singh on 6th February 2019. This program designed to supporting the industry to become energy efficient, cost competitive and sustainable. The project is under the Global Environmental Facilities’ (GEF) programmatic framework for energy efficiency in India and includes United Nations Industrial Development Organization (UNIDO) as the Implementing Agency (IA) and Ministry of MSME as the Lead Executing Agency (EA). The key Executing Partner for the project is Energy Efficiency Services Ltd (EESL). Small Industrial Development Bank of India (SIDBI) and Bureau of Energy Efficiency (BEE) are the guiding agencies for the project. The project targets to accelerate adoption of energy efficient technologies in the sector by removing its key barriers. The project aims to deploy 33-35 technologies in selective MSME clusters in the country which have maximum possibility of replication and potential to improve the energy baseline of fellow MSMEs units. Aiming at market transformation where in the project will adopt various innovative business models of ESCO (Energy Servicing Company) based financing where in the MSME units are expected to repay from their monetized energy saving in a stipulated period of time.