Government Unveils ADEETIE Scheme with Interest Subsidies for MSMEs to Boost Energy Efficiency

ENA MSME 2024-11-14 16:03:32 New Delhi, Nov 14 (KNN) In a strategic move to bolster energy-efficient practices in the micro, small, and medium enterprise (MSME) sector, the Union Power Ministry is preparing to launch a new interest subvention scheme aimed at promoting advanced, eco-friendly technologies in smaller businesses. According to insider sources, the initiative will provide a 5 per cent interest subsidy for small enterprises and a 10 per cent subsidy for medium enterprises under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme. With an initial budget allocation of Rs 1,000 crore, ADEETIE is designed as an online platform managed by the Bureau of Energy Efficiency (BEE). Its primary goal is to facilitate financing and adoption of cost-effective, energy-saving technologies among MSMEs, which have historically faced challenges in accessing green technology due to high initial costs. The scheme specifically excludes larger corporations, aiming instead to address the needs of smaller enterprises where barriers to green technology adoption have been most pronounced. We have prepared clear guidelines and consulted industry leaders to ensure smooth implementation without regulatory delays, said an official familiar with the schemes development. ADEETIE will enable MSMEs to deploy advanced energy-efficient technologies, including systems for combustion control in boilers, pocket ventilation, air-dyeing, and methane capture, each critical in reducing energy consumption and carbon emissions. The emphasis on these technologies is part of Indias broader strategy to bring down the operational costs of green technologies, which remain high despite their environmental benefits. This initiative aligns with the governments broader strategy to meet the countrys escalating energy needs, with peak power demand hitting 250 gigawatts (GW) in May—up from 243 GW last year. With power demand expected to grow at a compound annual growth rate of 7 per cent over the next five years, energy-efficient solutions are crucial for sustainable growth. The ADEETIE scheme, anticipated to launch by December, underscores Indias commitment to fostering a competitive, green economy. Officials believe that reducing technology costs and offering financial support will enable the MSME sector to thrive while contributing to Indias sustainable development goals. (KNN Bureau) 39911 https://knnindia.co.in/news/newsdetails/msme/government-unveils-adeetie-scheme-with-interest-subsidies-for-msmes-to-boost-energy-efficiency 2024-11-14 16:03:32 knnindia.co.in Government Unveils ADEETIE Scheme with Interest Subsidies for MSMEs to Boost Energy Efficiency