Coal India signs MoU with EESL to reduce energy consumption

New Delhi: Coal India Limited (CIL) has signed a memorandum of understanding (MoU) with Energy Efficiency Services Ltd (EESL) for strategic partnership to collaborate in the area of energy efficiency and resource conservation for de-carbonisation of Coal India. This MoU will enable Coal India to reduce 10 to 15 percent of its annual consumption of 4,600 MU of energy.

Coal India 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 Coal India 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 Coal India to conduct energy audits and undertake assignments to minimize losses on account of energy through the 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.

ALSO READ: CIL signs Rs 2,900-cr pact with Belaz for procurement of 96 dumpers

Coal India 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.

The MoU has been signed by Coal India's Director (Finance) and EESL's Director (Projects & Business Development) Venkatesh Dwivedi. Coal India's Chairman Pramod Agrawal and functional directors were present on the occasion, while Ministry of Coal's Secretary Dr Anil Kumar Jain and senior management of EESL joined the signing of MoU via video conferencing from New Delhi.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)