Context: Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power and Department of New & Renewable Energy (DNRE), Goa, have signed an MoU.
About the joint venture

• EESL and DNRE will carry-out the feasibility studies and subsequent implementation of decentralized solar energy projects.
• EESL shall implement the solar energy projects, establishment of 100 MW of decentralized ground mounted Solar Power projects on government lands to be used for agricultural pumping, replace approximately 6,300 agricultural pumps with BEE star rated energy efficient pumps and distribute approximately 16 Lakh LED bulbs for rural domestic households.
• This model is expected to be adopted by other states as this will reduces losses in terms of expenditure on water for farm sector runs into tens of thousands crore rupees in several States.
• The projects will accelerate the usage of renewable energy sources, especially for agricultural and rural power consumption in the State.
• The projects will also contribute in reduction of peak energy demand through deployment of energy efficient pumping and lighting thus contributing to overall sustainability.
• In Goa, with the objective of providing clean power at affordable rates, EESL will install solar projects in a first of its kind large scale programme where vacant/unused land provided by the Gram Panchayats/electricity board will be utilized.
• Through its convergence initiative, EESL 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.

About Energy Efficiency Services Limited (EESL)

• EESL is a joint venture of PSUs under the Ministry of Power, Government of India, which was set up by the government to facilitate energy efficiency projects and to work as an Energy Service Company.
• Energy Efficiency Services Limited (EESL) is a Super-Energy Service Company (ESCO), which enables consumers, industries, and governments to effectively manage their energy needs through energy-efficient technologies.
• EESL is promoted by the Ministry of Power Government of India as a Joint Venture of four reputed public-sector undertakings – NTPC Limited, Power Finance Corporation Limited., REC Limited, and POWERGRID Corporation of India Limited and has a net worth of over INR 8.3 billion (As per Audited Financial Results for the year ended31.03.2019).
• EESL is the world’s largest energy service company (ESCO) that is driving numerous initiatives that are potential game-changers in building a conducive ecosystem for energy-efficient technologies, across geographies.
• EESL aims to create market innovations with a solutions-driven approach through its Zero-Subsidy, Zero-Capex, and Pay-As-You-Save (PAYS) novel business model.
• EESL has taken its market transformation business model to the UK, Middle East, South Asia, and South-East Asia.