Saturday, October 1 2005 12:31 Hrs (IST) - World Time -

Bangalore: The five day long workshop of World Bank / Indian Renewable Energy Development Agency's (IREDA), All India Energy Efficiency Capacity Building Programme, organized by the Bangalore Chamber of Industry & Commerce (BCIC) in association with IRG Systems South Asia Pvt Ltd concluded yesterday (Sept 30, 2005), amidst some of the distinguished names from the Industry with an interactive session on Financial Analysis Techniques for Projects & Financing Energy Efficiency Projects.

Mr. Anil Sachdeva, Team Leader, World Bank Energy Project IRG Systems South Asia Pvt Ltd. said, "CMD being an important project activity to promote sustainable development in developing countries and assist Annex I Parties (UNFCCC listed 40 countries plus the EEC) in meeting their greenhouse gas emissions reduction commitments. Industrialized countries should invest in emission reduction projects in developing countries and receive credits for reductions achieved, called Certified Emission Reductions (CERs)."

A Senior Official from IREDA, New Delhi spoke about IREDA's Schemes for Financing of Energy Efficiency/ Conservation Projects. He said, "IREDA has received a Line of Credit from the World Bank to promote and finance energy efficiency & conservation projects in the country. Total amount under the Line of Credit is US $135 Million." India faces a peak shortage of about 13% and energy shortage of 7.8%. To meet the existing shortage and also future demand, 100,000 MW is proposed to be added till 2012 requiring investment of Rs. 800,000 Crores, he added.

Mr. K. Nagaraja Rao, AGM, Industrial Branch, State Bank of India said, "State Bank of India has fund based credit exposure of more than Rs. 10,000 Crores to power projects spread over 80 accounts of which 70% towards Central Power Units and State Electricity Boards."