Kerala - Thiruvananthapuram   

Move to create energy conservation fund

THIRUVANANTHAPURAM: Speakers at a roundtable discussion organised by the government here on Friday stressed the need for investment in energy conservation projects. The discussion was organised by the Energy Management Centre (EMC), under plans to establish a dedicated fund to support public and private sector energy conservation projects.

Representatives from the Department of Power, Kerala State Electricity Board, various public sector units, commercial banks, energy service companies, international donor agencies and NGOs took part in the deliberations in this regard..

Addressing the meeting, Secretary, Department of Power L. Radhakrishnan said that investment in energy efficiency was the cheapest way to increase the availability of energy in the prevailing situation of high fuel costs and continuing power shortage. He said any effort to conserve energy should include both producers and users.

He called for incentives, standards, innovative financing and institutional arrangements to encourage investments in energy conservation.

The participants discussed the draft rules for the fund and the models and best practices followed by other states and countries.

They also discussed options for structuring the fund and mobilising resources.

Under the Energy Conservation Act, 2001, all States are required to establish an Energy Conservation Fund.

The EMC has joined hands with the US Agency for International Development (USAID) and the Asia Pacific Partnership for Clean Development and Climate for the establishment of the energy conservation fund.

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