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New Delhi, July 10 The Bureau of Energy Efficiency (BEE) and PTC India Ltd (formerly Power Trading Corporation of India Ltd) on Wednesday signed a memorandum of understanding which intends to leverage the financial and technical strength of PTC and also provide financial support to carry out contract audit.

An official statement said that the MoU provides a framework for partnership between BEE and PTC for implementing programmes by providing technical expertise in the form of energy audits and finance by PTC, without any financial burden on BEE.

The MoU will also establish the Energy Efficiency Financing Platform (EEFP) that seeks to overcome barriers of financing by sharing risks and capacity upgradation of financial institutions among others.

The MoU allows PTC to undertake energy efficiency projects on performance contracting model to demonstrate its effectiveness as a viable business model. PTC will undertake these projects in various sectors such as Government buildings, commercial buildings, hospitals, municipalities and agriculture.

The objective of EEFP is to create a mechanism to mainstream financing of energy efficiency projects. EEFP will provide the necessary instruments like aggregated energy efficiency projects, bankable DPRs and other risk mitigation measures to enhance the comfort for tenders.

EEFP is being positioned as a platform to overcome barriers that have stunted financing to the energy efficiency projects. The MoU was signed by the Director General, BEE, Dr Ajay Mathur and Chairman and Managing Director, PTC, Mr Tantra Narayan Thakur.

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