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
Country
India
Implementing Agencies
The World Bank
Approval FY
1998
Status
Completed
Region
Asia
Executing Agencies
IREDA
GEF Period
GEF - 1
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund

Financials

USD
Co-financing Total
32,000,000
GEF Project Grant
5,000,000

Timeline

Concept Approved
01 Jan 1998
Project Approved for Implementation
03 May 1998
Project Closed
04 Sep 2008