EKI Energy Receives SMERA BEE Grade 3 Rating, Paving the Way for Growth in Energy Efficiency

On September 10, 2024, EKI Energy Services Limited (EKI) received a Grade 3 rating from the Sustainable Management and Research Institute (SMERA) as an Energy Service Company (ESCO). This rating highlights EKI’s strong work in energy audits and energy-saving projects, showcasing its commitment to fighting climate change.

As an ESCO, EKI offers solutions to improve energy efficiency by designing, upgrading, and executing projects that lower energy consumption. The company handles everything from identifying energy-saving opportunities through audits to financing, executing, and monitoring the performance of these projects. EKI’s projects also include community-based energy efficiency initiatives.

In India, the Bureau of Energy Efficiency (BEE) regulates ESCOs. Companies seeking ESCO status are graded by agencies like CRISIL, CARE, SMERA, or ICRA based on their technical expertise, financial stability, and market presence.

Mr. Manish Dabkara, Chairman and Managing Director of EKI Energy Services Ltd, said, “Currently, only 5% of India’s estimated ₹150,000 Crore energy efficiency potential has been tapped, indicating significant growth opportunities for ESCOs like EKI to help reduce energy consumption and carbon emissions. Through facilitation programs, BEE connects ESCOs with end-users, financial institutions, and technology providers to accelerate the adoption of energy-efficient projects.”

EKI Energy Services (EKI) received the Grade 3 rating from SMERA Ratings Private Limited after undergoing a detailed audit. SMERA, one of the four agencies appointed by the Bureau of Energy Efficiency (BEE), evaluated EKI’s expertise, experience, and success in energy efficiency projects, including their clean cooking initiative and community-based efforts.

EKI’s innovative Oorja ICS is a patented, fuel-efficient cook stove designed to help communities save energy. The GHG Oorja cook stove reduces harmful emissions by over 80% and is compatible with fuels like wood, coal, and biomass pellets. It improves indoor air quality by cutting smoke by 90% and lowers carbon monoxide emissions. It can also save up to 1,000 kg of firewood annually, reducing carbon dioxide emissions. This project highlights EKI’s ability to deliver impactful and sustainable energy solutions.

The SMERA BEE Grade 3 rating opens doors for EKI, allowing the company to bid for government tenders and high-value private projects that require ESCO certification. This achievement boosts EKI’s credibility, attracting investors and partners. It also reflects the company’s commitment to quality and continuous growth, strengthening its position as a leader in the energy efficiency sector.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.