Coal India Ltd (CIL) has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services Ltd (EESL) - a JV Company under the Ministry of Power - for strategic partnership to collaborate in the area of energy efficiency and resource conservation for de-carbonisation of Coal India. This MoU will enable EECL to help CIL reduce 10% – 15% of its annual consumption of 4600 MU of energy.
CIL will now collaborate with EESL in the areas of energy efficiency and resource conservation, reduce carbon footprint and improve its overall operational efficiency and profitability. EESL will help CIL with energy efficiency in processes along with de-centralized captive solar plants and help to improve operational efficiencies of CIL’s subsidiaries and reduce significant costs, without any upfront investment.
EESL will help CIL to conduct energy audits and undertake assignments to minimize losses on account of energy through financial ESCO/RESCO model. In the ESCO/RESCO model, the entire project cost shall be borne by EESL against the proposed energy savings project and the payment to EESL shall be monetised through energy savings. CIL and EESL will also explore business opportunities in the field of energy efficiency, electric vehicle hiring including establishment of charging stations, solar power generation, RAISE, Green energy building, smart energy solutions, etc.
Sanjiv Soni, Director (Finance), CIL signed the MOU on behalf of CIL and Venkatesh Dwivedi, Director – Projects & Business Development, EESL signed the document on behalf of EESL. Pramod Agrawal, Chairman, CIL and FDs of CIL were present on the occasion, while Dr. Anil Kumar Jain, Secretary-Coal, Govt. of India and senior management of EESL joined the signing of MoU via video conferencing from New Delhi.