Over September 2017, the Bureau of Energy Efficiency, in collaboration with the Maharashtra Energy Development Authority and the Indian Banks Association (and with technical assistance from the International Finance Corporation), organized three workshops for Financial Institutions looking to invest in Maharashtra’s Energy Efficiency sector. These workshops were held in Mumbai, Pune and Thane.
One of the largest street-lighting projects in India, this project involves the replacing of 465,000 fluorescent and metal vapor fixtures with energy efficient lamps using LEDs. The size of this project, as well as the fact that it is being carried out under a Public-Private-Partnership model, is expected to attract international financial players to the Indian market, and is expected to generate around $70 million in private investment. Economic and environmental results: energy saved, and greenhouse gas emissions reduced.
The International Finance Corporation has completed citywide energy mapping and greenhouse gas inventories for Chennai and Bengaluru, using the World Bank’s CURB tool. This interactive tool was designed to help city governments improve their climate-change related planning by offering projections of the environmental and financial costs of different action plans. CURB uses local city data to produce tailored analyses, and the mapping of these two cities marks the first real-world application of this tool.
The International Finance Corporation (IFC) is currently advising the Odisha Renewable Energy Development Agency in its efforts to scale up rooftop solar power solutions for residential consumers. This is an especially challenging task because the residential solar rooftop market in the state is fragmented and consists of multiple consumers with only a few kilowatts capacity each. Under the first phase of this project, the IFC has launched a web-based IT platform to reduce the time it takes for consumers in Bhubaneshwar to install rooftop solar power systems and to access available financial subsidies.