New Delhi, 06 February 2023 – Energy Efficiency Services Limited (EESL), a joint venture of Public Sector Undertakings under the Ministry of Power, signed a Memorandum of Understanding (MoU) with Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council (IMT-GT JBC) Malaysia at India Energy Week (IEW) to further promote the adoption of energy efficiency and sustainable practices in the region. As part of this strategic partnership, EESL will provide technical advisory, project management support, contracting and implementation support to execute select energy efficiency programmes from its portfolio with proven track records of successful implementation. The MoU was signed Mr. Vishal Kapoor, CEO, EESL, Ir. Ts. Dr. Mahadi Mohamad as well as other dignitaries from IMT-GT & EESL in the august presence of High Commissioner of India to Malaysia Shri B.N. Reddy, Additional Secretary Shri Ajay Tiwari Ministry of Power, Government of India.
Under this partnership, EESL will implement Rooftop Solar, LED Street Light Project, Electric Mobility, UJALA, and Building Energy Efficiency Programme in Indonesia, Malaysia, and Thailand. EESL will also collaborate with IMT-GT JBC Malaysia to identify opportunities for saving energy and lowering carbon emissions. Additionally, the IMT-GT JBC Malaysia will identify other new interventions to achieve its targets under Green City Action Plans 2022-2025 and assist EESL for various sector-led negotiations as well as provide support for the successful roll out of energy efficiency projects in Indonesia, Malaysia, and Thailand.
Speaking about the agreement Mr. Vishal Kapoor, Chief Executive Officer, EESL said, “EESL is steadfast in its commitment to provide universal access to energy efficiency through affordable and innovative solutions. Building on our brand commitment, we have collaborated with the esteemed Indonesia Malaysia Thailand Growth Triangle Joint Business Council. EESL has pioneered energy efficiency improvement across India and empowered millions of people through its services. Our partnership with IMT-GT will further promote sustainable growth across businesses and make energy efficiency central to the growth trajectory of all the cities under the council.”
Commenting on the strategic partnership, Ir. Ts. Dr. Mahadi Mohamad, Director, IMT-GT Joint Business Council, Malaysia added, “We are excited to partner with EESL, whose expertise in streamlining energy efficiency and related practices in India is well known. Today, nations all across the globe have realized the value of sustainable development and the need to reduce carbon emissions to safeguard the ecological balance of the planet. Our partnership with EESL is a testament of our efforts to promote low carbon and climate resilient development powered by renewable sources as well as energy efficient measures.”
About Energy Efficiency Services Limited (EESL)
A joint venture of NTPC Limited, Power Finance Corporation, Rural Electrification Corporation and POWERGRID, Energy Efficiency Services Limited (EESL) was set up under the Ministry of Power to facilitate implementation of energy efficiency projects. EESL is a Super Energy Service Company (ESCO) that seeks to unlock energy efficiency market in India, estimated at Rs. 74,000 crore that can potentially result in energy savings of up to 20 per cent of current consumption, by way of innovative business and implementation models. It also acts as the resource centre for capacity building of State DISCOMs, ERCs, SDAs, upcoming ESCOs, financial institutions, etc.
About IMT-GT Joint Business Council (IMT-GT JBC) Malaysia
IMT-GT is positioned as part of the ASEAN building block, linking ASEAN Sustainable Urbanisation Strategy with IMT-GT Sustainable Urban Development Framework 2019 – 2036 (SUDF). To leverage on the IMT-GT, a Joint Business Council (IMT-GT JBC) Malaysia was established and formally incorporated in 2021 to formulate robust business strategies, expand its membership base, augment its panel of professional and specialised services, act as a the secretariate of the IMT-GT, among others. The IMT-GT JBC Malaysia has the vision of becoming the leading body to spearhead the private sector in Malaysia to exploit and benefit from trade and investment opportunities in IMT-GT. To realise the vision, IMT-GT JBC’s mission is to promote participation of the private sector in Malaysia, promote domestic and foreign direct investment in IMT-GT, provide investor-focused services, forge international, national and subnational partnerships to attract investments and provide top-notch and out-of-the-box business services and policy solutions for the private sector in Malaysia.