EKI Energy Services Limited Achieves SMERA BEE Grade 3 ESCO Rating

EKI Energy Services Limited (EKI) has been awarded a Grade 3 rating by the Sustainable Management and Research Institute (SMERA) as an Energy Service Company (ESCO), reaffirming the quality of its projects and initiatives to fight climate change.

The SMERA BEE Grade 3 rating signifies EKI's strong capabilities in conducting energy audits and implementing energy-saving projects. An Energy Service Company (ESCO) means a company that provides energy efficiency solutions by designing, retrofitting, and implementing projects that reduce energy consumption in facilities. As an ESCO, EKI identified energy-saving opportunities through audits and managing the entire process, including financing, execution, and performance monitoring with its projects including community based energy efficiency initiatives.

In India, the Bureau of Energy Efficiency (BEE) oversees the empanelment of ESCOs. To become an ESCO, companies are graded by SEBI-accredited agencies like CRISIL, CARE, SMERA or ICRA, based on their technical manpower, financial strength, and market position.

Mr. Manish Dabkara, Chairman and Managing Director, EKI Energy Services Ltd, said, "Currently, only 5% of India's estimated INR 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 energyefficient projects."

Mr. Ramkrishna Patil, President, Operations, Climate Change, EKI Energy Services Ltd, said, "ESCOs play a vital role in the energy efficiency sector by investing in and implementing energy-saving projects. EKI's achievement of the SMERA BEE Grade 3 rating positions the company as a credible and reliable partner for businesses and organizations seeking to reduce their energy consumption and costs."

To obtain this certification, EKI underwent a rigorous audit process conducted by SMERA Ratings Private Limited, one of the four grading agencies appointed by the Bureau of Energy Efficiency (BEE). The audit assessed EKI's expertise, experience, and track record in energy efficiency projects, including community based energy efficiency projects, including our clean cooking initiative.

EKI's patented Oorja ICS is designed for community development and offers significant energy savings. The project's success has demonstrated EKI's ability to deliver innovative and impactful energy efficiency solutions. GHG Oorja is a fuel-efficient, affordable cook stove that reduces harmful emissions by over 80% and supports fuels like wood, coal, and biomass pellets. Designed to transform rural India's cooking practices, it cuts smoke by 90%, improves indoor air quality, and reduces carbon monoxide emissions. The stove saves up to 1000 kg of firewood annually, contributing to lower carbon dioxide emissions.

The SMERA BEE Grade 3 rating also opens up new business opportunities for EKI. It makes the company eligible to participate in government tenders and contracts, as well as certain high-value private sector projects, which demand ESCO certification to ensure quality projects. This recognition also enhances EKI's credibility and attracts potential investors and partners.

EKI's achievement of the SMERA BEE Grade 3 rating is a positive development for its stakeholders as well. It signifies the company's commitment to quality and continuous improvement. This recognition also strengthens EKI's position as a leading player in the energy efficiency sector and paves the way for further growth and success.

Shares of EKI Energy Services Ltd was last trading in BSE at Rs. 320.30 as compared to the previous close of Rs. 323.35. The total number of shares traded during the day was 30712 in over 1393 trades.

The stock hit an intraday high of Rs. 329.00 and intraday low of 319.75. The net turnover during the day was Rs. 9894138.00.

Source : Equity Bulls

Keywords

EKIEnergyServices INE0CPR01018 Grade3Rating SMERA ESCO ClimateChange