With an aim to discuss potential of investment in Industries & MSMEs related to Energy Efficiency projects, Punjab New & Renewable Energy Sources Minister Mr. Aman Arora on Friday inaugurated a one-day conference-cum-exhibition 'Investment Bazaar for Energy Efficiency' organized by Punjab Energy Development Agency (PEDA). Representatives from Industries, Financial Institutions, Banks, Designated Consumers, MSMEs, Equipment Manufacturers (EMs) and Energy Auditors attended the workshop.
While addressing the conference, Mr. Aman Arora said that the state has been working proactively to increase the renewable energy share to 30% by 2030 through the Punjab Vision Document 2030 strategy. Currently, the share standing at 15%.
The vision not only focuses on the energy generation side, but also stresses the need for demand side interventions across various sectors. He also emphasized upon the importance of energy efficiency & implementation of new and innovative energy efficient technologies in Industries & MSME in the State.
Focusing on the investment potential in Industries & MSMEs which can enhance the infrastructure at the state level, the Cabinet Minister said that energy is slowly transitioning to demand driven rather than supply driven.
He underlined the need to bridge the communication and knowledge gap between project implementers and funding agencies for the implementation of energy efficient activities in Industries & MSMEs. He also stressed upon the dynamics of industry, transport, buildings and agriculture sectors, which are bringing new opportunities.
Chief Executive Officer PEDA Dr. Amarpal Singh said that Punjab is now being considered to play a leading role in the energy transition in India by deployment of clean and low-carbon solutions and also to fulfill renewable purchase obligations.
The shifting patterns would push the state to redefine the way the energy sector operates on a day-to-day basis through utilizing higher cleaner and low-carbon power generation, providing low-carbon heating and cooling for domestic and commercial demand sectors, clean cooking fuels, increasing energy access to rural areas, modernizing agriculture practices amongst others.
He also suggested the demonstration of successful implementation of Energy Efficiency projects to create inspiration among other stakeholders for implementation of such projects in the Industries & MSMEs.Joint Director Bureau of Energy Efficiency (BEE), Ministry of Power Mr. Shyam Sunder briefed about the conference and importance & involvement of industries & MSMEs for implementation of energy efficiency projects in the State which will boost economy and suggested that banks/financial institutions shall provide extending support for such projects in the State. He deliberated upon the importance of stimulating market dynamics in the field of Energy Efficiency and making it more market oriented.
Notably, the Energy Efficiency Financing Platform (EEFP) is one of the initiatives under National Mission for Enhanced Energy Efficiency (NMEEE) for promoting financing of Energy Efficiency Projects. Bureau of Energy Efficiency (BEE) is organizing various regional conferences across India, where all the existing Designated Consumers (DCs) under PAT scheme as well as other industries and MSMEs are being invited wherein Punjab has been selected as one of the progressive states.
Director PEDA Mr. M.P. Singh said that PEDA is making concerted efforts to translate energy sector strategies into actionable low-carbon solutions to increase the utilization of clean and low-carbon energy. In addition, efforts are also required to assess potential penetration of newer technologies such as electric vehicles (EV), carbon, capture, storage and utilization, hydrogen that could invariably impact the energy demand in the transport and industry sectors and also contribute significantly in reducing the GHG emissions.
Meanwhile, major companies like Schneider, Siemens, L&T , Yogokawa etc showcased their energy efficient products in the exhibition.Indian Renewable Energy Development Agency (IREDA) Senior Manager Shekhar Gupta, Project Engineers of PEDA Money Khanna, Rohit Kumar, Sharad Sharma and representatives from GIZ , KPMG and industries like NFL, Nahar, Trident, Ambuja Cements, GVK power, Sterlite, L&T power, HPCL Mittal Refinery were also attended the one-day conference.