Energy Efficiency

Project Summary

The project, which is a component of Renewable Energy II, will help overcome the barriers to private investment in energy efficiency by catalyzing, supporting and funding private energy efficiency service companies (ESCOs) and directly financing end-user energy efficiency investments. The GEF grant will: (I) develop IREDA’s capacity to identify, appraise and finance ESCOs and end-user defined energy efficiency investments; (ii) test the performance of different energy efficiency projects and ESCO financing modalities; and (iii) disseminate information on the benefits and risks of energy efficiency investments. Associated World Bank and local counterpart financing will directly fund energy efficiency investments that will avoid over 750,000 tonnes of carbon emissions and catalyze investments that could avoid over 6 million tonnes of emissions.

Project Details

GEF Project ID
404
Project Type
Full-size Project
Status
Completed
Country
India
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
IREDA
GEF Project Manager

Financials

Project Preparation Grant Amount
0 USD
GEF Project Grant
5,000,000 USD
Co-financing Total
32,000,000 USD
GEF Agency Fees
0 USD
Total Cost 37,000,000.00 USD

Project Timeline

Received by GEF
Concept Approved
01 Jan 1998
Project Approved for Implementation
04 May 1998
Project closed
31 Mar 2006