In partnership with The Carbon Trust, UK and the Bureau of Energy Efficiency (BEE), IIEC-India helped design a national level EE fund for India’s industrial sector.
|The new National Industrial Energy Efficiency Fund (NIEEF) is a sub-fund under the National Clean Energy Fund (NCEF). The NIEEF defines how NCEF resources can be deployed to support a range of energy efficiency technologies on their journey from development to deployment. The IIEC-India team has been working with a variety of stakeholders—including government agencies, industry, financiers, technology providers, and energy service companies—to ensure that the new fund will be effective at transforming the Indian energy efficiency market.
The NIEEF is initially focused on industry (both large companies and SMEs) but can be extended to other sectors in the future. The fund also may be combined with other financing sources, such as international climate finance instruments. The draft, high-level design of the NIEEF was completed during the first phase of the project, which ended in April 2016. During Phase 2, the design will be presented to the NCEF Inter Ministerial Group, and the project team will develop more detailed design features for the new fund. In August, the IIEC and the Carbon Trust organized half-day roundtables in Delhi and Mumbai with representatives of industry and financial institutions, respectively, to help finalize the NIEEF design strategy.
IIEC and Carbon Trust Team conducting
the Roundtables in Mumbai and Delhi, in August 2016