CESL milestone under Gram Ujala scheme
Convergence Energy Services Limited is formally known as CESL is an energy solution under renewable energy, electric mobility, and also the subsidiary of Energy Efficiency Service Limited (EESL)
CESL has achieved a remarkable milestone of distributing 50 lakhs LED bulbs under Project Crore of their Gram Ujala program.
The government of India has implemented schemes in the name of Gram Ujala schemes on National Energy Conservation Day 2021 march and also implemented in rural households in 5 states are Bihar, Uttar Pradesh, Andhra Pradesh, Karnataka, and Telangana.
From this government has taken an effective method to reduce or decrease the usage of incandescent bulbs would be bad for consumers because of the higher cost of more efficient bulbs
CESL has Joined hands with the Union Minister for Power and C- Quest Capital. CESL has begun the village journey and also archives in 10 lakhs bulbs in a single day when the schemes have been implemented.
Using these schemes CESL has provided LED bulbs in 7-Watt and 12 Watt with 3 years guarantee at a cost of ₹10 per bulb in exchange for incandescent bulbs.
From this scheme, every household can exchange a maximum of 5 bulbs. This network has reduces the energy saving of 71,99,68,373.28 units per year with cost savings of 250 crores per year in the rural areas of 5 states.
CESL has continued this program inactive till march 31, 2022, and targets to distribute 10 million LED bulbs under Project Crore in 2 million households.
Ms. Mahua Acharya, MD & CEO, CESL said that this program is to ensure holistic development of the rural ecosystem. Under the leadership of Shri R K Singh Ji, CESL is constantly working towards providing better illumination in the rural parts of five states. Working on the same financial model of carbon credits, we will be expanding this to rural parts of other states upon completion of Project Crore, she added
Mr. Ken Newcombe, Chief Executive Officer, C- Quest Capital said that using carbon finance as the means to achieve energy efficiency in rural India is a powerful use of carbon markets. Doing this at scale is tremendous. Today’s 50 lac milestone is an important marker in this admirable program of the government of India which we are proud to co-finance and facilitate.
C-Quest Capital in the entire distribution journey under the SHINE program.
Sources: pib.gov.in
