Andhra Government to offer low interest loans to energy efficient MSMEs

Andhra Government to offer low interest loans to energy efficient MSMEs

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

A. Chandra Sekhar Reddy, CEO of AP-SECM, said on Wednesday that the interest subsidy would facilitate improved productivity and job creation, The Hindu reported.

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He represented the State Department of Energy at a national summit in Goa on energy efficiency.

Focusing on increasing financing and investment in energy efficiency, BEE Director General Abhay Bakre stressed the need for states to finalize and implement national action plans by energy efficiency.

In order to reduce projected total carbon emissions by one billion tonnes by 2030 and achieve net zero emissions by 2070, it had been planned to meet 50% of energy needs from renewable sources, said he declared.

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

Andhra Pradesh was in the lead with 16 projects, said BEE director Vineeta Kanwal.

During the summit, the physical and financial performance of all states in energy efficiency were reviewed by senior BEE officials. (KNN Office)

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