Vijayawada, Oct 13 (KNN) To help MSMEs in executing energy conservation and efficiency projects on a larger scale, the Andhra Pradesh State Energy Conservation Mission (SECM) has suggested the Bureau of Energy Efficiency (BEE) to extend loans at lower interest rates.

A. Chandra Sekhar Reddy, CEO of AP-SECM on Wednesday said interest subvention would facilitate an enhancement of productivity and employment generation, reported The Hindu.

He was representing the State’s Energy Department at a national summit in Goa on Energy Efficiency.

With due focus on the scaling up of energy efficiency financing and investments, BEE Director General Abhay Bakre stressed on the need for the States to finalise and implement the State Energy Efficiency Action Plans.

In order to cut the total projected carbon emissions by one billion tonnes by the year 2030 and achieve net zero emissions by 2070, it had been targeted to meet 50 per cent of the energy requirements from renewable sources, he said.

The BEE facilitation received 56 energy efficiency project proposals costing Rs 1,000 crore from 15 States.

Andhra Pradesh stood first with 16 projects, said BEE Director Vineeta Kanwal.

During the summit the physical and financial performance of all States on the energy efficiency front was reviewed by the BEE senior officials.  (KNN Bureau)