New Delhi [India], June 4 (ANI): Energy Efficiency Services Ltd (EESL), a joint venture under the Ministry of Power, has signed a memorandum of understanding (MoU) with Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE) for a strategic partnership to implement energy efficient and clean energy solutions in the HVAC&R industry.
Both organisations will exchange information in their respective areas that are of common interest, and will jointly work in conducting studies on issues like demand aggregation in the HVAC&R sector.
"We foresee considerable synergy and are expecting considerable environmental benefits which will lead to a sustainable future," said EESL Managing Director Rajat Sud.
ISHRAE President Amitabha Sur said the HVAC market is expected to witness unprecedented growth with demand for cooling and chilling equipment being driven by rising temperatures, urban migration trends and rapid advancement in green building constructions.
"It is vital to implement energy efficiency solutions in order to move towards a cleaner and greener future. We look forward to doing some impactful work with EESL through this collaboration," he said.
The energy efficiency market in India is estimated at Rs 74,000 crore that can potentially result in savings of up to 20 per cent of current consumption by way of innovative business and implementation models.