FICCI signs MoUs to promote energy efficiency

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SME Times News Bureau | 27 Aug, 2013
The Federation of Indian Chambers of Commerce and Industry (FICCI) signed two MoUs to promote energy efficiency, conservation and management of demand, the industry body said Monday.

The MoU among FICCI, Energy Efficiency Services Limited (EESL) and Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) of Germany will explore the feasibility of implementing a project on trigeneration -- simultaneous production of electricity, heating and cooling -- at the FICCI headquarters building here, the chamber said

Through the MoU with EESL, FICCI will support the EESL initiative to develop a power market for optimal utilization of energy and existing resources.

EESL is a joint venture of four state-run units -- NTPC, Powergrid Corp, Power Finance Corporation and Rural Electrification Corporation.

Such initiatives are considered important by experts in context of the fact that India is already the world's fourth-largest consumer of energy, while strategies for enhancing energy efficiency and renewable energy use are increasingly becoming the focus of India’s energy policy.