From correspondents in Delhi, India, 01:51 PM IST

IFC, a member of the World Bank Group, the Bureau of Energy Efficiency, and the Alliance to Save Energy have come together to launch a program that will facilitate market transformation and replicate municipal energy efficiency projects on a large scale in India.

As part of the program, the institutions have jointly developed the Manual for the Development of Municipal Energy Efficiency Projects in India to help municipalities, energy service companies, other energy efficiency providers, and financial institutions.

Through cost-effective actions, municipalities can bring about significant savings in energy, resulting in financial, environmental, and social benefits for citizens.

Commending the manual, Dr. Ajay Mathur, Director General for the Bureau of Energy Efficiency, explained, “Energy efficiency interventions in sectors like power, agriculture, municipalities, commercial buildings, and transportation are essential to mitigating emissions. We are happy to be a part of this forward-looking initiative.” He added that reducing energy expenditures by urban-local bodies can translate to substantial energy savings and help avoid having to augment capacity.

Paolo M. Martelli, IFC Regional Director for South Asia, added, “Quality urban infrastructure is critical to improving people’s lives. Adopting municipal energy efficiency is one of the few cost-effective options available for meeting growing demand for vital services like electricity, water, and wastewater treatment, as well as for optimizing the use of scarce resources.” This initiative is an important fit for IFC, which has made climate mitigation and adaptation a strategic priority globally.

Sudha Setty, Senior Program Manager, Alliance to Save Energy, said, “Energy audits in India have identified that energy represents 40 to 60 percent of operating expenses for supplying water, and that by becoming energy efficient, an urban local body can save a minimum of 25 to 40 percent of this cost.”

The Bureau of Energy Efficiency has endorsed the manual as a standard reference document for urban local bodies and other stakeholders. It will help promote the implementation of municipal energy efficiency programs in water supply and sewerage systems, street lighting, and municipal buildings. The manual can be beneficial to municipalities and utilities when designing bankable projects. It can also show energy service companies how to adapt their industrial business model to the municipal sector. It will provide financial institutions with a comprehensive summary of risk-reducing tools for energy efficiency processes and projects that are not part of their usual asset-based financing portfolio.

Source: Press Release Distribution via India PRwire