Going by the latest reports surrounding the developments in the new state, Energy Efficiency Services Limited (EESL), a Delhi based joint venture under the Union Ministry of Power has mooted Rs 5000 Crore investment in order to undertake energy efficiency projects in Andhra Pradesh in the next five years.
EESL is already prepped, working presently on an LED light bulb project worth Rs 1000 Crore in the new state of AP. Tracking a responsive progress with the current projects, the venture had scaled up investments with a detailed plan of five years. The firm is said to rely on global banks for funding, operating projects under the guidelines of the Union Power Ministry.
Scaled up investment will see the firm focus on expanding its horizons with use of other energy efficient devices like pump sets, refrigerators, air conditioners and water heaters in the state.
The current projects being focused on are LED street lighting in areas like Vizag and distribution of the lights bulbs to the domestic customers.