Union minister Piyush Goyal has said that the government has a “holistic vision” to make it easier to do business in India and was working to ensure that every household in the country has access to energy in two years. The minister of state for power, coal and renewable energy is in London for the India-UK Roundtable on Energy. He said he has taken a “personal pledge” to work towards energy access for every household in India by 2019.
“We are working on solutions to hit our targets before 2022, as the Indian government creates the foundations with a 100-year horizon in view,” Goyal said at the UK-India Conclave yesterday. Earlier, he launched the state-run National Thermal Power Corporation’s rupee-denominated ‘Masala Bond’ on the London Stock Exchange (LSE), which has raised around Rs 2,000 crore.
“We listed the NTPC Masala Bond at the London Stock Exchange, which is a sign of the scale in India. In the long run, the rupee will be a currency with most stable exchange rate. We are on the path of growth and we want the rest of the world to be our partner in that growth,” he said on the sidelines of the UK-India Awards yesterday evening.
“Come to India with good ideas,” he told the audience at the event organised by the UK-based India Inc Ltd. Leading British and Indian firms won awards for their work in the UK-India space during the event.
During his UK stay, Goyal will launch his ministry’s Energy Efficiency Services Limited (EESL) expansion plans in the UK. He will also extend EESL’s affordable lighting scheme – UJALA (UK Joins Affordable LEDs for All) – to consumers in the UK, with the Indian high commission in London becoming the first Indian mission in the world to adopt the programme.
EESL began its operations in the UK with acquisitions worth around 6.8 million of two operating companies running Energy Savings Performance Agreements in the education and leisure sectors. The acquisition was effected by EPAL, a joint venture of EESL and EnergyPro Limited, an advisory company specialising in energy efficiency.
EESL claims to have retrofitted over 230 million LED bulbs and two million smart LED streetlights across India through self-sustaining commercial models. In the UK, it has plans to invest 100 million pounds over three years to implement low-carbon, energy efficiency and renewable energy solutions in public and private sectors. EESL also plans to formalise its collaboration with UK-based solar energy equipment supplier Cenergist.