APSECM organises 'investment bazaar' conference in port city

Visakhapatnam: Terming energy efficiency as a powerful tool to increase energy security and improved cost-effective solutions to meet escalating energy demands in future, Deputy Director General of Bureau of Energy Efficiency (BEE), Ashok Kumar mentioned that Andhra Pradesh government is making tremendous efforts to strengthen the energy efficiency sector by encouraging energy efficiency investments in industrial sector.

Speaking at the 'investment bazaar' conference organised by the AP State Energy Conservation Mission (APSECM), the state designated agency, here on Wednesday, Ashok Kumar said a roadmap of sustainable and holistic approach to national energy efficiency programme (ROSHANEE) was introduced by the Union Ministry of Power to upscale implementation of energy efficiency measures under various financing schemes to achieve country's nationally determined contributions of reducing emissions intensity by 45 percent by 2030.

The government of Andhra Pradesh is supporting BEE's initiatives and giving valuable inputs to BEE to promote energy efficiency in all energy consuming sectors and APSECM is proactively developing various policies to effectively implement energy efficiency in various sectors, the Deputy Director General of BEE said.

Delivering a keynote address, Chief Executive Officer of APSECM A Chandra Sekhara Reddy said that there's an excellent opportunity for banks and financial institutes to invest in energy efficiency projects, operate their business and to grow in AP. "Andhra Pradesh is strong today and it is certain to grow stronger tomorrow. The investments will also help the state to improve energy efficiency, achieve energy security, boost economy, create employment, reduce energy intensity on finances, improve energy performance and protect environment, etc.," CEO APSECM said.

The state has already made significant savings of Rs.4,925 crore through cost-effective power purchases and sharing best practices which was highlighted in various national platforms by the Union Ministry of power, he added.

CEO APSECM along with director finance and HRD, APEPDCL, D Chandram highlighted the need for banks and financial institutes to fully support the energy efficiency projects in industries.

Among others, I. Madhan Mohan, general manager PFC, Surya Pratap, director projects, APEPDCL, representatives of banks, industries, financial institutions, energy service companies and original equipment manufacturers (OEMs) participated in the investment bazaar, supported by the BEE, government of India. A poster was launched on the occasion.