The Government of India and the Asian Development Bank (ADB) have signed a $250 million loan for Energy Efficiency Services Limited (EESL). The loan aims to expand energy efficiency investments in India that will benefit agricultural, residential and institutional consumers. Additionally, $46 million financing will be provided from the Clean Technology Fund (CTF), to be administered by ADB.
The project is expected to contribute to the mission of Government of India to promote energy efficiency and meet Government’s commitments to reduce energy intensity of the economy. Introduction of energy-efficient technologies in eligible states including smart meters, distributed solar photovoltaic systems and electric vehicles will help reduce electricity network losses and reduce greenhouse gas emissions.
Source: The Press Information Bureau
Important takeaways for all competitive exams:
- Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.