In a bid to turbocharge energy efficiency initiatives across industries, the Bureau of Energy Efficiency (BEE- GoI), with the support of Union Ministry of Power and Ministry of Finance, is planning to launch an interest subvention scheme with substantial amount of ₹12,000 crore, of which ₹6,000 crore will be specifically earmarked to bolster the energy efficiency efforts of Micro, Small, and Medium Enterprises (MSMEs) and strengthen them.
Addressing the Energy Efficient Summit 2023, hosted by CII-Godrej GBC in Hyderabad, BEE’s Director General, Abhay Bhakre, highlighted the scheme’s goal of offering reduced-interest loans for energy efficiency projects, a collaboration between BEE, Small Industries Development Bank of India (SIDBI), and other stakeholders. Key features encompass eligibility for projects aiming at a minimum of 10% projected energy savings.
This initiative is seamlessly integrated into the broader BEE-SME programme, spanning 35 energy-intensive SME clusters across 12 sectors. It includes adopting energy-efficient technologies, sharing knowledge, capacity building, and innovative financial mechanisms. The goals are reduced energy consumption, increased energy efficiency, lower CO2 emissions, improved profitability and competitiveness for MSMEs, and more job opportunities.
