London, June 30, 2017: As a step leading towards annual energy and cost savings, the Indian High Commission building in central London has been lit up in energy efficient tricolour. The High Commission, the largest Indian diplomatic mission, is situated in the iconic 'India House' building. Now it has become the first to sign up an energy efficiency contract with India's Energy Efficiency Services Limited (EESL).
According to the statement by EESL, "Under the contract, EESL will install 1,700 LED lights in High Commission of India. The installation of these LED lights will lead to annual energy saving of 147,000 units and cost savings of 23,000 pounds over seven years."
The statement also mentioned that the building will be turned energy efficient by retrofitting LED lights inside the building as well as the facade lighting. This will lead to a notable 66 per cent reduction in energy consumption.
Last month, during the UK visit of Piyush Goyal, India's minister of Power, Coal, New & Renewable Energy and Mines, the agreement between EESL and the Indian High Commission in London was signed.
According to PTI reports, Under the ESCO model created by EESL, a joint venture of NTPC, Power Finance Corporation, Rural Electrification Corporation and Powergrid, energy savings and/or demand reductions are purchased by a utility using a predetermined rate.
The result of the implementation of the LED programme is energy savings, which are then monetised. Upon completion of the LED project, EESL is paid fixed amounts per kWh. Then an authorised measurement and verification (M&V) organisation assesses and analyses the savings achieved. The duration of this project is seven years, within which EESL provides operational maintenance of the installed lights as well.
EESL stated, "EESL, under the administration of the Indian government's Ministry of Power, is working towards mainstreaming energy efficiency and is implementing the world's largest energy efficiency portfolio (worth 5.6bn pounds over a period of three years) establishing 20-fold growth."
So far, over 240 million LED bulbs and two million smart LED streetlights have been retrofitted by the firm across India through "self-sustaining" commercial models. EESL is looking forward to leverage this implementation experience and explore new opportunities in the global market for the diversification of its portfolio. The company has already set up overseas operations in the UK, South Asia and South East Asia.
– prepared by Durba Mandal of NewsGram. Twitter: @dubumerang