New Delhi, Oct 16 (IANS) Shakti Sustainable Energy Foundation has signed a Memorandum of Understanding with Energy Efficiency Services Limited (EESL) to undertake collaborative activities to promote energy efficiency and conservation in the country.

Under the agreement, Shakti Sustainable Energy Foundation will provide technical support to EESL to ensure the effective implementation of EESL programmes. 

Energy Efficiency Services Limited is a joint venture of Central Public Sector Enterprises - NTPC Limited, Power Finance Corporation of India Limited, Rural Electrification Corporation and Power Grid Corporation India Limited - under the ministry of power. It was set up to lead market development and implement the "national mission for enhanced energy efficiency".

Shakti Sustainable Energy Foundation CEO Krishan Dhawan and Energy Efficiency Services Limited managing director Saurabh Kumar signed the memorandum of understanding recently.

Ajay Mathur, director general of the Bureau of Energy Efficiency, present during the event, expressed happiness and said this collaboration would have far-reaching impact. 

Mathur said: “Energy efficiency has a large market in India but very little of this market has been tapped. This MoU is a step forward in this direction.”

Saurabh Kumar, managing director of EESL, added: “It is necessary to fast track the diffusion of energy efficiency and also unlock the large market for energy efficiency services and products in India.”

Dhawan said: “The MoU with EESL, which spells out our cooperation to further the cause of energy efficiency in India, is of great significance. We believe EESL can make a very significant impact on the energy efficiency space, and we look forward to supporting their efforts.”

Accoeding to the terms of the agreement, Shakti Sustainable Energy Foundation will provide technical support in developing and designing relevant frameworks, procedures, tools, and protocols needed for the efficient implementation of EESL’s schemes. 

It will also provide support in conducting capacity-building activities for relevant stakeholders including state designated agencies, industries, industries associations, energy managers and energy auditors to aid implementation.