GS 3: Economy | Infrastructure: Energy, Ports, Roads, Airports, Railways etc.

Why in News?

• INSPIRE 2018 has been organised in collaboration with the Bureau of Energy Efficiency (BEE), The Energy & Resources Institute (TERI), ADB, UNEP, and the Administrative Staff College of India (ASCI).
• The three-day symposium will focus on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India.
• The event is bringing together policy-makers, innovators and various stakeholders to deliberate on key energy policies, market transformation strategies, and sustainable business models.
• This will help leverage the full potential of energy efficiency and bring its multiple co-benefits to the fore.

Innovate To Inspire Challenge:

• The #InnovateToINSPIRE challenge was organized by EESL and World Resources Institute (WRI).
• The challenge invited participants to submit sustainable and scalable solutions to seven specific challenges spanning grid management, e-Mobility, energy efficient technologies and financial instruments.
• The winning entries received an award of Rs. 5 lakhs each along with mentoring and guidance from EESL to help them bring their solutions to market.

Energy Efficiency Revolving Fund (EERF):

• To support investments in new, innovative and scalable business models, EESL and ADB signed an agreement for a GEF grant of USD 13 million to establish an EERF.
• EERF aims to expand and sustain investments in the energy efficiency market in India, build market diversification, and scale up existing technologies.

Other Agreements:

• During INSPIRE 2018, EESL and GAIL, a wholly owned subsidiary of GAIL (India) Limited signed a MoU.
• The MoU is aimed to develop natural gas based cogeneration and tri-generation projects in Commercial & Industrial Sectors in India.
• This MoU is set to benefit industries such as Hotels, Hospitals, Airports, Commercial Malls, Commercial/Government Buildings and other infrastructure with the advantages of Combined Heat & Power technology.

Energy Efficiency Services Limited (EESL):

• EESL under the administration of Ministry of Power is working towards mainstreaming energy efficiency and is implementing the world’s largest energy efficiency portfolio in the country.
• EESL aims to create market access for efficient and future-ready transformative solutions that create a win-win situation for every stakeholder.
• EESL has pioneered innovative business approaches to successfully roll-out large-scale programs that allow for incentive alignment across the value chain and rapidly drive transformative impact.
• EESL aims to leverage this implementation experience and explore new overseas market opportunities for diversification of its portfolio.
• As on date, EESL has begun its operations in UK, South Asia and South-East Asia.