India’s First Green Energy Convergence Project: Goa | 18 Nov 2020
Why in News
India’s first convergence project to generate green energy for rural and agriculture consumption is set to come up in Goa.
- Energy Efficiency Services Ltd (EESL), a joint venture of PSUs under the Ministry of Power, and Goa government signed a memorandum of understanding (MoU) for the same.
Key Notes
- Convergence Project of EESL:
- Focus: It focuses on energy solutions that lie at the confluence of renewable energy, electric mobility and climate change.
- Objective: It seeks to connect seemingly independent sectors like Solar Energy, Energy Storage and LED lights to provide solutions, which can enable in decarbonisation and affordable energy access.
- Mechanism:
- EESL is offering convergent interventions, which solve multiple gap areas in the energy ecosystem.
- Solutions such as solarised agriculture feeders, LED street lights in local villages and battery energy storage systems.
- Leveraging the carbon financing mechanism to rapidly strengthen rural infrastructure in a clean and sustainable manner, and to create a resilient and sustainable rural community in India.
- EESL’s climate financing interventions currently include Gram UJALA, Decentralised Solar and Gram Panchayat Street Lights programmes.
- Benefits of the Project:
- Promote Renewable Energy: It will accelerate the usage of renewable energy sources, especially for agricultural and rural power consumption in the State.
- Energy Efficient: Contribute to reduction of peak energy demand through deployment of energy efficient pumping and lighting thus contributing to overall sustainability.
- Improve Health of DISCOMs: Accrue savings of Rs 2,574 crores to the State over the period of 25 years, while improving the health of DISCOMs and providing cleaner power.
- Check Technical Losses: Provide clean day time electricity to farmers as well as energy efficient pump sets which would reduce the power consumption as well as T&D (Transmission and Distribution Losses) losses associated with transmitting power to agriculture and rural feeder networks.
Energy Efficiency Services Ltd
- It is a joint venture of National Thermal Power Corporation Limited (NTPC) Limited, Power Finance Corporation, Rural Electrification Corporation and POWERGRID, It was set up under the Ministry of Power to facilitate implementation of energy efficiency projects.
- EESL is a Super Energy Service Company (ESCO) that seeks to unlock the energy efficiency market in India, estimated at Rs. 74,000 crore that can potentially result in energy savings of up to 20% of current consumption, by way of innovative business and implementation models.
- It also acts as the resource centre for capacity building of State DISCOMs, financial institutions, etc.
Way Forward
- In a solar power rich country like India, effective harnessing of this abundant resource can yield handsome returns for all stakeholders and therefore initiatives like Convergence can help India to produce more energy at less cost.
- Project Convergence is also well aligned and is in consonance with the International Solar Alliance, an initiative of the Indian government.