‘AP right place to invest in energy efficiency projects’

PNS|Vijayawada

AP is the right place to invest in industrial energy efficiency, said Ashok Kumar, Deputy Director General, Bureau of Energy Efficiency (BEE). “There is an excellent opportunity for banks and a financial institute to invest in energy efficiency projects, run business and to grow in AP. The Andhra Pradesh government is making efforts to strengthen the energy efficiency sector by encouraging investments in the industrial sector,” he added.

An investment bazaar conference was organised by the AP State Energy Conservation Mission (APSECM), the State-designated agency, with the support of the Union Ministry of Power led by the Bureau of Energy Efficiency in Visakhapatnam on Wednesday.

Speaking on this occasion, Ashok Kumar said that a Roadmap of Sustainable and Holistic Approach to National Energy Efficiency (ROSHANEE) was introduced by the Union Ministry of Power to upscale implementation of energy efficiency measures under various financing schemes to achieve the country’s nationally determined contributions of reducing emissions intensity by 45 per cent by 2030, from 2005 level.

Ashok kumar said: “I am glad to announce that the AP State through APSECM, SDA of AP, has been the forerunner in organising Investment Bazaars among all the States and the maximum EE projects have been identified by the BEE’s facilitation centre in Andhra Pradesh so far. The State has also established a financial institutions committee to finance EE projects at the local level itself.”

Calling Visakhapatnam a beautiful city and one of the fastest growing cities in the country, the DDG said that the first investment bazaar that was conducted in Visakhapatnam received global attention in several international webinars conducted by BEE.

Delivering the keynote address, Chief Executive Officer of APSECM A Chandrasekhara Reddy said that there was an excellent opportunity for banks and financial institutes to invest in energy efficiency projects, run business and to grow in AP. “Andhra Pradesh is strong today and will be stronger tomorrow. The investments will also help the State to improve energy efficiency that would help to achieve energy security, boost economy, create employment, reduce energy intensity on finances, improve energy performance and protect environment etc.,” CEO said.