HomeEnergy efficiency ›BEE Plans to Introduce INR 12,000 Crore Interest Subvention Scheme

BEE Plans to Introduce INR 12,000 Crore Interest Subvention Scheme

This initiative is a crucial part of the broader BEE-SME program, which encompasses 35 energy-intensive SME clusters spanning 12 sectors. BEE’s DG, Abhay Bhakre also shared India's 2023 Energy Efficiency Plan, aligning with global commitments to low GHG emissions and climate resilience.

September 18, 2023. By Nivedita Ojha

At the Energy Efficiency Summit 2023, organised by CII-Godrej GBC in Hyderabad, BEE's Director General, Abhay Bhakre, plans in support of the Ministry of Power and Ministry of Finance. This scheme, valued at INR 12,000 crore, allocates INR 6,000 crore specifically to boost energy efficiency in MSMEs.

The scheme's primary objective is to provide reduced-interest loans for energy efficiency projects. It's a joint effort between BEE, the Small Industries Development Bank of India (SIDBI), and other stakeholders. Projects aiming for a minimum of 10 percent projected energy savings will be eligible for support.

This initiative is a crucial part of the broader BEE-SME program, which encompasses 35 energy-intensive SME clusters spanning 12 sectors. Director General Abhay Bhakre also shared India's 2023 Energy Efficiency Plan, aligning with global commitments to low GHG emissions and climate resilience.

Chandrasekhar Reddy, EESL Advisor-South India, presented a report on the impact of Energy Efficiency on Enhancing the Economy during the CII National Summit, alongside BEE DG Abhay Bhakre, Dr. Ashok Kumar (Deputy DG, BEE), and Ravichandran Purushottam (Chairman, Energy Division, Hyderabad).

He underlined BEE's dedication to boosting energy efficiency by proposing 150 innovations for sectors that will increase productivity and efficiency. The Perform, Achieve, and Trade (PAT) scheme, one of BEE's major initiatives, controls energy use in sectors that use a lot of it. It imposes energy efficiency goals and annual consumption reporting on 13 sectors and 1,073 authorized users.
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