Coal India announced on February 4, 2021 that it has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services Ltd (EESL) to reduce its carbon footprint and improve its overall operational efficiency and profitability.
Under the agreement, the two companies will collaborate in the area of energy efficiency and resource conservation for de-carbonisation of state-owned Coal India.
The agreement will enable EESL to help CIL reduce its annual consumption of 4,600 million units (MU) of energy by at least 10-15 percent.
Key Highlights
•The Energy Efficiency Services will help Coal India with energy efficiency in processes along with de-centralised captive solar plants.
•It will also help to improve the operational efficiencies of CIL's subsidiaries and reduce significant costs, without any upfront investment.
•The EESL will also help CIL conduct energy audits and undertake assignments to minimise losses on account of energy through the financial energy service company (ESCO)/renewable energy service companies (RESCO) model.
•Under the ESCO/RESCO model, the entire project cost will be borne by EESL against the proposed energy savings project and the payment to EESL shall be monetised through energy savings.
Besides this, EESL and Coal India will also explore business opportunities in the field of energy efficiency such as electric vehicle hiring including the establishment of charging stations, solar power generation, green energy building and smart energy solutions.
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