Economy

EESL eyes 1,500 charging stations, IPO next fiscal: MD Saurabh Kumar

Twesh Mishra New Delhi | Updated on January 01, 2020 Published on January 01, 2020

Saurabh Kumar, MD, EESL   -  BL

EESL Managing Director, Saurabh Kumar speaks to BusinessLine about the company's plan for public charging stations and an IPO next financial year

Energy Efficiency Services Limited is aiming to install 1,500 public charging stations in financial year 2020-21. This joint venture of public sector undertakings under the administrative control of the Ministry of Power is also mulling an initial public offering by the coming financial year, EESL Managing Director, Saurabh Kumar told BusinessLine. Excerpts:

What progress has EESL made in the last year on the deployment of electric vehicle (EV) charging stations? What is the current utilisation level of these stations? Is there a target for 2020?

EESL has installed 66 public charging stations in the National Capital Region, Chennai and Nagpur. Given that EV adoption is still at a nascent stage in India, the average utilisation of these chargers is 8 per cent. EESL aims to install 1,500 public charging stations in financial year 2020-21.

What about the IPO of EESL?

We are looking at an IPO positively by the last quarter of the next financial year.

Tell us about EESL’s plans as the LED distribution mission looks saturated. Does the company plan to popularise any more appliances?

EESL plays the role of a catalyst to enable market transformation and ensure feasibility and availability of affordable and technically-superior energy-efficient technologies. With EESL’s interventions, the LED market in India has grown to become the second-largest in the world.

Recently, EESL forayed into the Super Efficient Air Conditioner segment. These Super-Efficient ACs, manufactured by Voltas, are 54 per cent more efficient than BEE 3-star ACs currently available in the Indian market, while their price is in the same range as a BEE 5-star inverter AC. They also use an eco-friendly refrigerant with low GWP (Global Warming Potential) and deliver superior cooling, sans the adverse environmental impact. These ACs also undergo no de-rating even at 43 degrees Celsius and provide continuous effective cooling even at high temperatures of up to 52 degree Celsius. These ACs can help the consumer save about ₹3,000 per year without compromising on comfort.

How do you wish to address naysayers who were sceptical of the quality of products distributed through EESL?

EESL conforms to quality control measures specified by the Bureau of Indian Standards (BIS). These standards were made mandatory in May 2015 by BIS and are applicable to domestic manufacturing as well as imports.

The distribution counters operating in various states also serve as replacement counters. EESL has developed a three-tier quality control mechanism to ensure that only high-quality products are distributed. The prospective bidders are required to provide, along with their bid documents, test reports from labs accredited to the National Accreditation Board of Laboratories (NABL). At the distribution stage, EESL picks up samples of LED bulbs from all distribution points and manufacturing facilities, in a random manner, and gets it tested at NABL-accredited labs.

How does the equity holding of EESL evolve with REC being taken over by PFC? Do we see any board level changes?

The current equity holding of EESL has NTPC with 47.15 per cent, PFC with 24.97 per cent, REC with 22.18 per cent and PowerGrid with 5.7 per cent. Both PFC and REC continue to function as separate entities, and hence, this reflects in our Board structure as well. Currently, NTPC is the single largest stakeholder on our Board and the combined entity of PFC and REC is equivalent of the NTPC stake.

Published on January 01, 2020
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