The Andhra Pradesh State Energy Conservation Mission (APSECM), on Thursday, has organised the ‘Investment Bazaar for Energy Efficiency’, a state-level meeting, in Vizag. The event was held by the APSECM, in association with the Confederation of Indian Industry (CII) and Bureau of Energy Efficiency (BEE), with an objective to attract investments in energy efficiency technologies and programmes.
The Investment Bazaar witnessed the participation of investors from across the country. During the regional conference in Vizag, the BEE delegation offered an insightful explanation about the Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE) scheme. This scheme is a risk-sharing mechanism that allows financial institutions, with partial coverage of the risk, involved in extending loans, to the stakeholders.
Speaking on the occasion, APSECM CEO, A Chandrasekhara Reddy, said that there is a huge opportunity for everyone to invest in energy efficiency projects here in the state. Mr Reddy invited investors and several other stakeholders to visit Andhra Pradesh to understand the potential of the state.
He further shared that the Andhra Pradesh State Government considers energy efficiency as a powerful tool to increase energy security and the most cost-effective solution to meet escalating energy demand in the future. The APSECM CEO also added that Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy, has extended support to strengthen the energy sector in the state.
Addressing the media, BEE Director, Vineeta Kanwal, said that the aim of this Investment Bazaar was to bring all the stakeholders, of energy efficiency, in one place to accelerate energy efficiency financing. “Andhra Pradesh is the first state to organise an Investment Bazaar for Energy Efficiency”, she added.