BEE, SIDBI to jointly promote energy efficiency financing for MSMEs

New Delhi, Nov 7 (KNN) The Bureau of Energy Efficiency (BEE) and Small Industries Development Bank of India (SIDBI) have partnered to promote energy efficiency financing for MSMEs.

A MoU has been signed which aims to support MSMEs explore the internet of things (IoT)-based solutions, greening MSMEs, capacity building of various stakeholders, etc.

This statement is followed by SIDBI recently announcing partnerships with multiple stakeholders to help MSMEs become more energy efficient in their operations to support India’s Sustainable Development Goals (SDG) 2030 targets.

The financial institution for MSMEs had signed MoUs with German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for operating a Risk Sharing Facility (RSF) that provides credit guarantees to loans from commercial banks or non-banking financial companies (NBFCs). 

Further two other MoUs were signed with the Technology Information, Forecasting and Assessment Council (TIFAC) under the Department of Science and Technology and CII to identify and promote scalable green and clean technologies by MSMEs. 

Moreover, a collaborative platform Sameeksha (Small and Medium Enterprises Energy Efficiency Knowledge Sharing) is operated by BEE and MSME ministry jointly.

It is a pool of knowledge which synergises the efforts of various organisations for the promotion and adoption of clean energy technologies and practices among MSMEs.  (KNN Bureau)