Energy Efficiency Services JV becomes fastest-growing Indian firm in UK

State-run Energy Efficiency Services on Thursday said its joint venture EnergyPro Assets (EPAL) has been listed as the fastest growing Indian company in the UK in the 'India meets Britain Tracker 2020' by industry body CII and Grant Thornton.

The JV between EESL and British impact focussed energy efficiency firm EnergyPro Asset Management Ltd (EPAM)) has grown at a rapid clip, further reaffirming India's role as a global energy efficiency pioneer, the state-run company said.

The EPAL began its journey when EESL and EPAM joined together to acquire energy service company (ESCO) operations in the UK quickly followed by clinching a share in a grid-scale battery project in Canada. Since then, it has invested Rs 633 crore in the UK and has become a success story for Indian owned companies globally, the EESL said.

The JV emerged as the fastest-growing Indian company in the UK in the “India meets Britain Tracker 2020”, developed by Confederation of Indian Industry (CII) and Grant Thornton, the state-run company said.

The EPAL's watershed moment was in 2018 when it acquired Edina, UK's leading supplier, installer and maintenance provider for Combined, Heat and Power solutions. Edina was the first-ever acquisition of an overseas company, by an entity administered under Ministry of Power, it added.