Energy Service Companies (ESCOs) is a company that offers energy services, usually design, retrofitting and implementation of energy efficiency projects after identifying energy saving opportunities through energy audit of existing facilities, energy infrastructure outsourcing, power generation and energy supply, financing or assist host entities in arranging finances for energy efficiency projects by providing a savings guarantee, risk management in the implementation of the energy efficiency projects and also perform measurement and verification(M&V) activities to quantify actual energy savings post implementation of energy efficiency projects.”
BEE does empanelment of ESCOs through a process of grading carried out by SEBI Accredited rating agencies CRISIL/CARE/ICRA indicating capability in implementation of energy efficiency projects through performance contracting based on availability of technical manpower, financial strength, market position etc. Till date 150 ESCOs have been empaneled by BEE. The energy efficiency market in India is estimated to be worth INR 150,000 Crore, out of which only 5% potential has been tapped by ESCOs so far.
For capacity building of ESCOs, BEE in partnership with State Designated Agencies and with the technical support from IFC, has proposed to conduct 5 training workshops for capacity building of ESCOs ( also includes Accredited and certified Energy auditors/ Energy professionals/ energy managers) on energy efficiency financing. The series of workshops shall be inaugurated in March, 2018. For more information, download the information from below.