Industrial, MSME sector hold energy saving investment potential of Rs 5.15 lakh cr: BEE

Vijayawada, May 23 (KNN) The Bureau of Energy Efficiency (BEE) led by the Union Minister of Power has emphasised on industrial sector comprising of MSMEs having the potential to attract Rs 5.15 lakh crore in area of energy saving. 

The agency has asked the Andhra Pradesh government to make use of the huge investment opportunity available in the energy efficiency sector to achieve energy security.

Appreciating the state government and Energy Minister Peddireddi Ramachandra Reddy’s positive response towards improving energy efficiency activities in the State, Director General of BEE Abhay Bhakre pointed out that the energy-saving investment potential of the country is expected to be around Rs 10.02 lakh crore by 2031.  

In a communication to the state government, he said that Andhra Pradesh is one of the best States in the area of energy efficiency and could become the best State for energy efficiency investment potential in future. 

Advising to focus on energy efficiency related investments that will help boost the economy, Bhakre highlighted the need to improve energy performance in key sectors, create employment and improve the environment.

“The transport sector has potential of Rs 2.26 lakh crore and the domestic sector has the potential of Rs 1.2 lakh crore in the country,” he added. 

He also asked the AP State Energy Conservation Mission to pay attention on formulating a roadmap to achieve the State energy efficiency target of 6.68 million tonnes of oil equivalent (Mtoe) which will have a significant contribution in achieving the national target of energy savings to the tune of 150 Mtoe by 2030.  (KNN Bureau)