The Asian Development Bank (ADB) has approved a US$250m loan to Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India. With this assistance package, the public sector energy service company will focus on energy efficiency opportunities that are not covered by traditional energy service company investments, such as distributed solar PV systems, smart meters, and e-vehicles. The total cost of the project averages US$592m, including US$296m financed by EESL, US$250m from the ADB and US$46m from the Clean Technology Fund. The energy efficiency project is expected to be completed in March 2025.
EESL was created in 2009 under the Ministry of Power of India to carry out large-scale energy efficiency investments and to provide a comprehensive package of project design, implementation, monitoring, and investment. EESL already secured an ADB loan in 2016 for the Demand Side Energy Efficiency Sector Project, focusing on efficient lighting and appliances.