BEE, RECPDCL sign pact for partial risk guarantee fund for energy efficiency
Updated: Jul 23, 2015 11:18:48am
New Delhi, July 23 (KNN) The Bureau of Energy Efficiency (BEE) and the REC Power Distribution Company Ltd (RECPDCL), on behalf of consortium between RECPDCL, REC Ltd and Energy Efficiency Services Ltd (EESL) recently signed an Implementing Agency Agreement for operationalization of Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE).
It will support energy efficiency projects by addressing credit risk barriers faced in financing Energy Service Companies (ESCOs).
The Agreement was signed Secretary, BEE, by Sanjay Seth and Chief Financial Officer, RECPDCL, Somya Kant in the presence of Director General, BEE, Ajay Mathur.
PRGFEE is an innovative financing mechanism under Framework for Energy Efficient Economic Development (FEEED), which is one of the initiatives under National Mission for Enhanced Energy Efficiency. This fund has been constituted by Bureau of Energy Efficiency and Ministry of Power, Government of India. PRGFEE is a risk sharing mechanism to provide financial institutions (Banks/NBFCs) with a partial coverage of risk involved in extending loans for energy efficiency projects. (KNN Bureau)
It will support energy efficiency projects by addressing credit risk barriers faced in financing Energy Service Companies (ESCOs).
The Agreement was signed Secretary, BEE, by Sanjay Seth and Chief Financial Officer, RECPDCL, Somya Kant in the presence of Director General, BEE, Ajay Mathur.
PRGFEE is an innovative financing mechanism under Framework for Energy Efficient Economic Development (FEEED), which is one of the initiatives under National Mission for Enhanced Energy Efficiency. This fund has been constituted by Bureau of Energy Efficiency and Ministry of Power, Government of India. PRGFEE is a risk sharing mechanism to provide financial institutions (Banks/NBFCs) with a partial coverage of risk involved in extending loans for energy efficiency projects. (KNN Bureau)
Loading...
