50 MSMEs in Erode district to get subsidy of Rs. 36 lakh for 2017-18 under Energy Audit Scheme

Erode, July 24 (KNN) Under the promotion of Energy Audit and Conservation of Energy (PEACE) scheme, as many as 50 Micro, Small and Medium Enterprises (MSME) will be given a subsidy of Rs. 36 lakh for 2017-18, District Collector, Erode, Tamil Nadu has revealed.

According to a media report, District Collector S. Prabhakar said this while inaugurating the awareness campaign and training programme at Erode District Small Industries Association (EEDISSIA) hall, organised by the District Industries Centre (DIC).

He saidthat energy is a major operating cost for MSMEs and reducing it would increase the profit margin. He called upon the entrepreneurs to utilise the scheme benefits in the district.

The Department of Industries and Commerce of the State government had come out with the PEACE scheme having four major components - awareness and training programme, incentive for energy audit and implementation of changes based on the energy audit recommendations.

Bureau of Energy Efficiency of Ministry of Power, Government of India will carry out energy audit for which 50% of the audit cost will be given as subsidy. Based on the audit recommendations, MSME making modifications will be given 25% of the cost of the eligible components.