Prajavartha Online Telugu News
-Chief Secretary K S Jawahar Reddy stresses the need for Power utilities to continue to take steps to attract investments in energy efficiency and renewable energy sectors
-Energy Efficiency sector has investment potential of 10 lakh crore by 2031
-AP identified 30 energy efficiency financing projects,highest number among the other States
-BEE estimated more than Rs.412.30 crore of energy efficiency investment potential in AP
-Banks have shown keen interest to provide finance for energy efficiency projects in AP
-AP’s energy efficiency target is 6.68 Million ton of oil equivalent(Mtoe) energy savings by 2030
-Energy efficiency is a great tool to meet energy demand
-State government focuses on green energy investments
-State has entered into MoUs for green energy projects alone worth Rs.81,000 crore
-State government’s push for green energy developed a significant interest among investors
-State would become a pioneer to many states in the country in green energy sector
-Chief Secretary advised Energy department to conduct more investment bazaar meetings in various districts of the state
Vijayawada, Neti Patrika Prajavartha :
As the Andhra Pradesh has a huge scope to become a leader in the country in energy sector, the Chief Secretary to Government K S Jawahar Reddy has stressed the need for power utilities to continue to take measures to attract investments to ramp up the State in renewable energy and energy efficiency sectors at a rapid rate which will give cost effective solutions to enhance energy security, boost economy, reduce energy intensity on finances, create large number of jobs and improve environment as well in the coming years.
As part of celebrations of National Energy Conservation Week activities from 14 to 20 december-2022, AP State Energy Conservation Mission, Energy department organized the Investment Bazaar Workshop on Friday (16th December-2022) with an objective to bring together energy experts, solution providers, products & services, key stakeholders from the Government, financial institutions, industry, and ESCOs under one platform to deliberate and share best practices, ideas, and financing options in the energy efficiency space.
Addressing the gathering during the conference, the Chief Secretary to Government and Chairman of APSECM K S Jawahar Reddy who is the chief guest of the program said that the State government is determined to meet any future energy demand and achieve self sufficiency in the power sector. “Electricity demand driven by economic development, industrial growth, consumer growth and urbanization is growing rapidly in Andhra Pradesh. State government is considering energy efficiency as a great tool in providing affordable and sustainable electricity to all and also most promising and cost effective solutions to meet growing energy demand, enhance energy security, reduce greenhouse gases and local emissions while supporting job creation” Chief Secretary said.
He appealed the people to habituate and follow energy conservation and water conservation which are the need fo the hour to protect the planet.
The chief secretary said that the State government is focusing on green energy investments with an objective of making the State a hub for green energy. The State has entered into MoUs for green energy projects alone worth Rs.81,000 crore which is indicating that the state would become a pioneer to many states in the country in green energy sector, he said.
“The state government’s push for green energy and increasingly opportune economic situation has developed a significant interest among investors and make the state one of the most attractive renewable energy destination in the country. With the credibility of Chief Minister Y S Jaganmohan Reddy and clear policies to the clean energy revolution in Andhra Pradesh will also serve exciting renewable energy prospects for the country in the coming years.”, Chief Secretary said.
The chief secretary further reminded about the proposal of making a provision to ensure providing at least 5 percent interest subvention in the proposed scheme for MSMEs/Industries that is planned by MoP, GoI which will attract many entrepreneurs to implement EE projects that ultimately helps for State as well as Nation’s Energy efficiency objectives.
Responding to Chief Secretary, the Director BEE Sunil Khandare said that the scheme is being examined by the Department of expenditure under the Union Ministry of Finance
The Director of BEE said that as per Bureau of Energy Efficiency (BEE), the country has energy savings investment potential of Rs.10 lakh crore by 2031 in key sectors including industrial, commercial, domestic, transport, municipal and agricultural sectors. Andhra Pradesh is the first state in the country which has organized an investor’s conference with industries, banks and financial institutions in Visakhapatnam recently in which the state has identified 30 energy efficiency financing projects which is the highest number among the other States. BEE estimated more than Rs.412.30 crore of energy efficiency investment potential in AP”, director BEE said
Speaking on this occasion, special chief secretary energy, K Vijayanand said that the state has already announced a renewable energy export policy to promote investments in the renewable energy sector to attract investors by establishing wind solar hybrid projects which would help strengthen the energy sector in the state. “The efforts of the state government to strengthen the energy sector would help to transform the state into a vibrant economy and industrial hub”, special chief secretary, K Vijayanand said.
As a developing state, Andhra Pradesh’s energy efficiency potential is largely untapped. The BEE has given Andhra Pradesh, a target of 6.68 million ton of oil equivalent(mtoe) energy savings by 2030 by implementing energy efficiency measures in various key sectors. In view of this, AP has taken an initiative to organize an investment bazaar to attract investments in the energy efficiency sector. Several national, private banks and Non banking financial institutions participated in the investment bazaar conducted by AP State Energy Conservation Mission (APSECM) where the banks have shown keen interest to provide finance for energy efficiency projects in AP, Vijayanand said.
The chief secretary suggested APSECM to conduct more investment bazaar meetings in various districts of the state and create awareness among industries and investors about the future of the energy efficiency sector. He also advised APSECM to prepare an action plan to materialize the energy efficiency financing projects already identified.
JMD HRD & Admin, APTRANSCO, I Prudhvi Tej along with CMD APCPDCL J Padma Janardhana Reddy suggested all the participants to utilize the opportunity to gain the knowledge on latest available technologies, best practices and advancements in the field of energy efficiency and discuss with Financial Institutions on financing options for various energy efficiency projects in industries.
Representatives from industries like NSL textiles, Ramco cements, JSW cement, Ravali spinners and representatives from banks like SBI, Indian Bank, Union Bank of India have participated in the conference.
