Kingdom of Saudi Arabia signs MoU with EESL
Energy Efficiency Services Limited (EESL), under the administration of Ministry of Power, Government of India (GoI), has signed a Memorandum of Understanding (MoU) with National Energy Services Company, Kingdom of Saudi Arabia to implement energy efficiency programmes and scale-up demand side measures in the Gulf country. The MoU was signed by Waled Alghreri, Chief Executive Officer, National Energy Services Company and Saurabh Kumar, Managing Director, EESL.
As per the MoU, EESL will provide consultancy and expand the capacity of the National Energy Services Company, which is instituted by the Kingdom of Saudi Arabia, to execute energy efficiency programmes. The move comes in the wake of the Arab Kingdom working ardently towards reducing its power subsidies and introducing energy efficiency initiatives. With rapidly increasing population coupled with soaring energy prices, the electricity demand of Saudi Arabia is growing at a rapid pace. According to the estimates by the World Bank, the electricity generated in Saudi Arabia completely relies on non-renewable sources like oil, gas and coal sources.
Keeping this in mind, the National Energy Services Company has engaged with EESL to replicate the success of latter’s street lighting national programme and retrofit of buildings, with energy efficient appliances in Saudi Arabia. EESL has also agreed to depute its officials in Saudi Arabia to provide technical and financial consultancy and monitor the execution of energy efficiency projects.