He said under the PRGFEE scheme, the BEE will provide partial guarantee to loan amount for EE projects implemented through the BEE- empanelled energy service companies. The committee will propose policy initiatives for increasing EE financing and development of EE market in the State. Policy initiativesThe SECM will invite EE proposals in different sectors such as industries (large or small), buildings and agriculture, do technical appraisal of the projects and will recommend the viable ones among them to the financial institutions for funding. The SECM will also pave the way for signing of MoUs with the BEE, which leads to project financing under the PRGFEE. In the meeting, Energy Secretary N. Srikant said the BEE has formulated a risk sharing mechanism to provide financial institutions with a partial coverage of risk involved in extending loans for energy efficient projects.

Source: The Hindu November 15, 2020 19:48 UTC