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EESL recently completed 10 years and It’s enforced initiatives have aggregately led to a reduction of more than 46 million tonnes of greenhouse gas emissions and energy savings of more than 58 billion kWh across the globe. During the event Saurabh Kumar, Managing Director said that Energy Efficient Services Ltd (EESL) has forayed into solar power generation and By the end of 2020-21 it plans to set up 1.5 GW of decentralized solar power plants across the country.
“EESL has already operationalized 100 MW out of 800 MW of solar power which was mandated by the Maharashtra government and Rajasthan has given EESL the mandate to set up 113 MW of solar distributed generation projects,” Kumar added.
Kumar informed that, In Maharashtra, EESL is supplying electricity at 3.10 per unit to agriculture feeders, with land for the project being provided by the state whereas, In Rajasthan, the company will supply power at 3.90 per unit along with land acquisition cost.
Kumar stated that the company will not install solar capacity of more than 10 MW at one location but In each substation, it will add solar power plants ranging from 0.5 MW to 10 MW. The decentralized solar plants will meet the requirements of farmers connected to the agriculture feeder.
He further said that EESL has installed 1.1 million smart meters in New Delhi Municipal Corp area, Haryana, Bihar and Uttar Pradesh and Over the next few years, EESL has set a target of installing 250 million smart meters.
During its 10 years, the company had enjoyed exponential growth, with offices chains across India, UK, South Asia, Middle East, and South-East Asia. It has seen its revenue grow at a CAGR of 114.96 % from Rs 26 crore in FY 2013-14 to Rs 2,565 crore in FY 2018-19