APSECM and BEE to sign agreement for energy-efficiency projects

Andhra Pradesh State Energy Conservation Mission (APSECM) will enter into a memorandum of understanding (MoU) with the Bureau of Energy Efficiency (BEE) for facilitating financing of energy-efficiency projects in the state under Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE) scheme.

The BEE has institutionalised the PRGFEE that provides banks and NBFCs with a partial coverage of risk involved in extending loans to energy-efficiency projects. This would guarantee 50 per cent of loan amount or Rs 100 million per project with an objective of scaling up energy-efficiency investments in Andhra Pradesh. The APSECM would invite tenders for selecting an agency to supply IoT-enabled power monitoring devices to MSMEs that would help promote energy-efficiency in industries.