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ESSL’s bright LED journey from Rs 90 cr to Rs 700 cr

ESSL’s bright LED journey from Rs 90 cr to Rs 700 cr

By BizLED Bureau

May 9, 2016: It was in the year 2008 when Ajay Mathur, the then Director General of Bureau of Energy Efficiency (BEE) initiated the idea to start a new company that would sell energy efficient electric equipment. The original model developed together with key Power Ministry representatives then included present CERC president G B Pradhan who aimed at amassing equipment from market via overturn bidding and then selling at the bare price. Also it was foreseen to work beside municipal and street authorities for street lighting and related works.

The thought was willingly accepted by the ministry of power and it was in the year 2010 that Energy Efficiency Services Limited (EESL) came into existence.

READ ALSO: ESSL proposes LED street lighting for Dehradun

 ESSL’s bright LED journey from Rs 90 cr to Rs 700 cr

However for a period of six years, EESL was an unidentified company although it had done some commendable work in some southern India states. The company consisted of an equity base of Rs 90 crore in 2010-11. The previous fiscal year, ESSL witnessed a turnover of Rs 7000 crore with its revenues rising to Rs 50 crore.

Saurabh Kumar, the managing director of ESSL said that the company is certain that it will touch turnover of Rs 2,500 crore during the present financial year and twice the profits as compared to 2015. The company first came into the limelight when it completed the street lightning program in just four months in July 2014. Soon after in November, ESSL lightened up the streets of Andhra Pradesh with LEDs in just two months.

The Prime Minister Narendra Modi launched the Domestic Efficient Lighting Programme or DELP in January 2015 together with Piyush Goyal, the power minister. Since then, the popularity of LED increased manifolds and EESL extended its business all over India.

The LED distribution reached Rs 10 crore in April 2016. The value has crashed by 83% within a year to Rs 75 per LED bulb. The Power Ministry dowels the savings on electricity bill to the tune of Rs 14.5 crore on a daily basis. The DELP scheme was changed to UJALA powered by a mobile app and a real time dashboard.

Super Energy Service Company

EESL is regarded as Super Energy Service Company (SuperESCO) with no fixed assets. The company is currently planning to support other ESCOs in some states and work out standards and corroboration for energy efficient equipments.

The company has a lot of other plans in the coming years that include Building Management System (BMS), centrally monitored street lightening programs and agricultural pumps. Under BMS, ESSL is all set to make energy efficient government buildings.

Kumar said that the company will sign MoUs with Central Public Works Department since majority of the government buildings are included in their portfolio. This will start from 20 buildings in South and North block of the Central government

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At present, EESL is involved in retrofitting the energy guzzling Shram Shakti Bhawan at Rafi Marg, Delhi. It is being said that this will bound to set a firing example of energy efficiency. It is now a 3-Star efficient building, ESSL will take it to 5-sta soon, added Kumar.

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