During INSPIRE 2018, EESL and ADB sign pact for $13 million Global Environment Facility (GEF) grant to set up an EERF
In New Delhi, the 2nd edition of INSPIRE 2018 (International Symposium to Promote Innovation & Research in Energy Efficiency) has been inagurated by R K Singh, the Union Power Minister. During INSPIRE 2018, EESL and Asian Development Bank (ADB) signed pact for a Global Environment Facility (GEF) grant of $13 million to establish an Energy Efficiency Revolving Fund (EERF) to support investments in new, innovative and scalable business models in India. The aim of EERF is to expand and sustain investments in the energy efficiency market in India, build market diversification, and scale up existing technologies. INSPIRE 2018 is being organised by Energy Efficiency Services Limited (EESL) and World Bank. The 3-day symposium will focus on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India. The Power Minister also gave away awards to four pathbreaking innovations in clean energy and energy efficiency as part of #InnovateToINSPIRE, a first-of-its-kind energy innovation challenge.