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Yes Bank, Bureau of Energy Efficiency in PFI pact

Press Trust of India  |  New Delhi 

Private sector lender today signed a pact with Bureau of Energy Efficiency to become the participating financial institution (PFI) to avail risk guarantee under the partial risk guarantee fund for energy efficiency.

The partial risk guarantee fund for energy efficiency (PRGFEE) is a risk sharing mechanism that provides with a partial coverage of risk involved in extending loans to energy efficiency projects with an objective of scaling-up Energy Efficiency in

"This MoU is a formal agreement between and BEE (Bureau of Energy Efficiency), a statutory body under Ministry of Power, of India, to channelize bank for energy efficiency projects through BEE approved Energy Services Companies (ESCOs)," a press statement said.

The PRGFEE is an innovative financial instrument which uses the public resources to channelise private sector towards promoting of energy efficiency in different sectors of the economy, including MSMEs, buildings and municipalities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 20:22 IST