Energy Efficiency Services Limited (EESL) on Wednesday entered into a strategic partnership with The Energy and Resources Institute (TERI) for two years, according to an official statement released by the ministry of power.
As per agreement, both organizations have decided to enter into an agreement as strategic partners, to work jointly for the achievement of common goals and objectives related to energy efficiency in India and abroad.
Commenting on the development, Piyush Goyal said, “This alliance of simultaneous policy and market development will provide a larger platform to boost the national energy efficiency programmes in international markets. This collaboration is an ambitious step towards achieving environment sustainability which is the need of the hour.”
With this partnership, the main focus of TERI will be on working with governments, regulatory bodies, industry organizations, and utilities to create a policy environment for clean energy technologies. EESL will emphasize on implementing projects and programmes to promote clean energy technologies through innovative policy based business model to end users.
The agreement will also bring in people and institutions who work on the policy side into the market based interventions. It will also enable cross country and global linkages so that there is an exchange of information and replication of interventions.
The collaboration will provide comprehensive turnkey solutions where TERI will use its expertise to create energy efficiency projects through audits, etc. and EESL will bring in its business models to implement them.
This model of collaboration will primarily be used in countries of Africa and East Asia and will further investigate its use in Latin America and other developing countries. In developed nations like Europe and USA, the role of TERI will be to create market awareness about the business opportunities that EESL can potentially unlock.