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2019, A ‘Light’ Story: State Power Firm Ups Revenues From Rs 70 Crore In 2014 To Rs 2,000 Crore In Five Years
Representative image. (Unsplash/Evan Smogor)
In the last four years of the NDA government, revenues of state-run Energy Efficiency Service Limited (EESL) have increased from Rs 70 crore to Rs 2,000 crore in FY19, an increase of over 2,750 per cent and profits after tax have doubled from Rs 50 crore (FY18) to about Rs 100 crore this fiscal, reports The Hindu.
Also, the company will clock revenues of Rs 2,800 crore at the group level due to the strong performance of its subsidiary in the UK that it acquired.
EESL, one of the world’s largest public energy services companies, was formed under the Ministry of Power to facilitate energy efficiency projects in the country.
It spearheaded the Unnat Jyoti by Affordable LEDs for All (UJALA) scheme to provide 20W LED tubelights and BEE 5-star rated energy efficient fans to consumers. “
“Ujala was the LED bulbs programme. When we started the programme in 2014, a seven-watt LED bulb cost ₹310. Today, we are procuring a far more efficient nine-watt bulb for ₹40. We have distributed 32 crore bulbs over the last four years, giving LEDs at ₹72. We are a market enabler as 116 crore bulbs have been sold by the private sector. We have transformed the lighting market by saving 8,300 MW of power through LED illumination,” Saurabh Kumar, managing director, EESL, told The Hindu.
Rs 10,000 Crore Investment
Kumar stated EESL has replaced nearly 81.5 lakh streetlights in urban areas with LED lights. “Our investment till now in energy efficiency and energy efficiency products already deployed and committed is ₹10,000 crore,” he added.
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