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AP to form Joint Venture with APTransco, APGenco, APDiscoms and EESL

apgenco

In a major fillip to the implementation of Energy Efficiency activities in the State, the Govt. of Andhra Pradesh has taken a vital decision to form a Joint venture/ Special Purpose Vehicle (JV/SPV) with APTRANSCO, APGENCO, APDISCOMS, EESL and Government of Andhra Pradesh, exclusively for taking up of energy efficiency activities in the State in similar lines of Energy Efficiency Services Limited (EESL) at the National level. Go Ms No. 18 dated 1st June 2016 has been issued by the Principal Secretary, Energy I&I, GoAP, Ajay Jain in this regard. This new entity has to take up large scale implementation of energy efficiency both in public and private sectors in the State, through Energy Service Companies (ESCOs). The new JV/SPV for exclusively taking up of Energy Efficiency activities in the state at large scale in similar lines of EESL is the brain child of the Chief Minister Sri. N. Chandra Babu Naidu, said  Ajay Jain.

The principal objectives as stated in the GO are as following.

PRINCIPAL OBJECTIVES

 Promoting & development of Energy Efficiency activities in the State., Investing in the Energy Efficiency Projects in ESCO model ; Carrying out Investment Grade Energy Audit for the clients.

Bringing in necessary capital from the reputed Private firms /agencies for investing in Energy efficiency projects in the State. ; Develop commercially viable projects for third party funding that could beimplemented to capture energy efficiency opportunities. ; Pool up the capital from debt and equity sources for taking investment grade energy efficiency projects. ; Promote local manufacturing capacity of energy efficiency appliances/ equipment and to create consumer awareness. ; Provide Energy Efficiency Consulting services to the Consumers of AP.

The proposed JV/SPV company shall take necessary steps to bring the Global Companies with experience in energy efficiency area as equity partners in joint venture to bring in the best world class technology know-how in carrying efficiency activities in the state.

The Chief Executive Officer (CEO), State Energy Conservation Mission (SECM) has profusely thanked the  Chief Minister for giving him an opportunity to serve in the new JV/SPV, APSEEDCO. (NSS)

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