‘Volume enables us to bring down prices, we pass it on to customers’

Managing director, Energy Efficiency Services Limited

NEW DELHI: Energy Efficiency Services Limited (EESL) is a joint venture company of four central public sector undertakings under the ministry of power. Its aim is to lead the development of the energy efficiency market that is estimated at 74,000 crore. Within a short time of its commencement in 2010, the organisation has exponentially scaled up its activities in terms of distribution of energy-efficient appliances such as LED bulbs and streetlights. In an interview with HT, managing director Saurabh Kumar, who has been at the helm of affairs since May 2013, talks about the company and its achievements.

What have been EESL’s programmes and achievements so far?

We have installed seven crore LED bulbs across India under the domestic efficient lighting programme launched in January 2015 and seven lakh LED streetlights. We are moving to energy-efficient fans and will install up to 10 lakh five-star pump sets this year for farmers that offer more than 30% energy saving. Then there is the energy-efficient building

programme.

You have transformed energyefficient equipments market.

Yes. We have been disruptive in many a sense. The volume enables us to bring down prices and we pass that on to customers. The price of LED bulbs fell from above 300 to less than 100 in two years. In fans — our recent project — we see a 40% fall in prices. We made people understand that energy efficiency is a serious and scalable business and evolved a business model for energy service companies that has proved successful.

How has your financial performance been?

The operational revenue has gone up exponentially because of scaling up. It was 5 crore in 2013-14 and next year, it went up to 70 crore. This year, we should touch 900 crore. Last year, we paid a 30% dividend for the four promoter companies.