Energy Efficiency Current Affairs
Asian Development Bank (ADB) it will provide US $13 million loan to Energy Efficiency Services (EESL) to promote efficient energy usage in India. It will be provided by Global Environment Facility (GEF) as part of US $200 million ADB-financed Demand-Side Energy Efficiency Sector Project.
ADB funding is helping EESL finance energy service utilities for installing established energy-efficient technologies such as light-emitting diode (LED) street-lights with municipalities, while exploring newer technologies and their self-sustaining business models.
The additional financing for project through GEF grant will be used by EESL for making investments in new and emerging technologies, including trigeneration, efficient motors and air-conditioners, smart meters/grids and associated new business models to expand use of such innovations as well as to set up v
Asian Development Bank (ADB)
ADB is a regional development bank based out of Asia. It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It was established in December 1966. It is headquartered at Ortigas Centre in Manila, Philippines. It has total 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
The second edition of was International Symposium to Promote Innovation & Research in Energy Efficiency (INSPIRE 2018) launched in New Delhi. It was jointly organised by Energy Efficiency Services Limited (EESL) and World Bank. The three-day symposium focused on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India. Moreover awards to four pathbreaking innovations in clean energy and energy efficiency were also given as part of #InnovateToINSPIRE, a first-of-its-kind energy innovation challenge.
#InnovateToINSPIRE challenge was organized by EESL and World resources Institute (WRI) in August- October 2018 in run-up to INSPIRE 2018. The challenge had invited participants to submit sustainable and scalable solutions to seven specific challenges spanning grid management, e-Mobility, energy efficient technologies and financial instruments.
Four winners were selected from 94 entries by eminent jury comprised of Indian and international experts in the field of energy. The winning entries received award of Rs. 5 lakhs, each, along with mentoring and guidance from EESL to help them bring their solutions to market.
Energy Efficiency Services Limited (EESL)
EESL was set up under Union Ministry of Power to facilitate implementation of energy efficiency projects. It is a joint venture of NTPC Limited, Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and POWERGRID. It leads market-related actions of National Mission for Enhanced Energy Efficiency (NMEEE). It also acts as the resource centre for capacity building of State DISCOMs. It is also implementing the world’s largest energy efficiency portfolio in the country.