India Steel Market Watch
October 8: The Foundry Development Council (FDC) has recommended to the Bureau of Energy Efficiency (BEE) for initiation of star rating of power intensive equipment used in foundries for promoting energy efficiency.
The office of the Development Commissioner (DC), Ministry of Micro, Small & Medium Enterprises (MSME) has already taken initiatives for promoting energy efficiency, a senior official from the Institute of Indian Foundrymen (IIF), informed ISMW.
The basic objective is to encourage the micros, small and medium enterprise (MSME) foundries to adopt energy-efficient technologies. For this purpose, bankable DPRs for the implementation of energy-efficient technologies will be invited from the MSMEs. Further, to facilitate the initiative, MSMEs in the identified clusters will be supported in preparation of bankable detailed project reports (DPRs).
It is expected that the initiatives will provide a shelf of bankable DPRs for financing by SIDBI/other financial institutions. DPRs on energy efficiency projects developed under the SME support schemes of BEE, PCRA or other expert agencies will also be eligible for support,” the official said.
Individual MSMEs may also submit their DPRs (prepared by a competent agency) to the banks and financial institutions. Under the present activity, MSMEs will be assisted in implementation of the projects through loans from SIDBI/ banks/financial institutions for which subsidy up to 25% of the cost of the project will be available.
The IIF is also supporting interested member units in conducting detailed energy audits under SGP with support from UNDP/GEF.