Convergence Energy Services Limited (CESL) has finally reached its target of distributing 50 lakhs LED bulbs under Project Crore of their Gram Ujala program.
Gram Ujala scheme is being implemented in rural households in Bihar, Uttar Pradesh, Andhra Pradesh, Karnataka, and Telangana.
Speaking on this achievement, Mahua Acharya, MD & CEO, CESL said that this program is to ensure holistic development of the rural ecosystem. Under the leadership of R K Singh Ji, CESL is constantly working towards providing better illumination in the rural parts of five states. Working on the same financial model of carbon credits, we will be expanding this to rural parts of other states upon completion of Project Crore, she added
Applauding the partnership, Ken Newcombe, Chief Executive Officer, C- Quest Capital said that using carbon finance as the means to achieve energy efficiency in rural India is a powerful use of carbon markets. Doing this at scale is tremendous. Today’s 50 lac milestone is an important marker in this admirable program of the government of India which we are proud to co-finance and facilitate.
Under the able leadership of Union Minister for Power and New & Renewable Energy R. K. Singh, CESL began this illuminating the village’s journey in March this year.
On National Energy Conservation Day 2021 this month, CESL achieved distributing 10 lakh bulbs in a single day.
CESL is providing high-quality 7-Watt and 12-Watt LED bulbs with 3 years guarantee for INR 10 per bulb in exchange for working incandescent bulbs. Every household can exchange a maximum of 5 bulbs.
The distribution has resulted in energy savings of 71,99,68,373.28 units per year with cost savings of 250 crores per year in the rural areas of the aforementioned states. The program is active till March 31, 2022.
CESL is supported by C-Quest Capital in the entire distribution journey under SHINE program.