The Bureau of Energy Efficiency (BEE) and Tata Capital Limited on Thursday signed a memorandum of understanding (MoU) to work closely on BEE’s Energy Efficiency Financing Platform (EEFP).
The platform seeks to create a mechanism to facilitate financing of energy efficiency projects. The MoU was signed by Dr Ajay Mathur, Director General, BEE and Mr Praveen P Kadle, Managing Director and CEO, Tata Capital Limited.
The MoU will provide a flexible framework under which collaborative activities and partnerships in the field of utility- based demand side management, energy conservation building code, energy efficiency in existing commercial buildings, etc.
While overall energy efficiency investment market is estimated at around Rs 74,000 crore, the combined capital of BEE funds will infuse over Rs 170 crore in the market in the coming years, a company release said.