MOU
EESL and GAIL sign an MoU for Trigeneration Projects
New Delhi: GAIL (India) Limited and Energy Efficiency Services Limited (EESL) have signed a Memorandum of Understanding (MoU) today in New Delhi for cooperation in development of Trigeneration projects in India.
The MoU aims at building a closer strategic partnership between the two companies by jointly exploring business opportunities in Trigeneration business segment in India. Under this MOU, GAIL & EESL shall jointly undertake studies and if found viable, 50:50 joint venture between GAIL & EESL will be incorporated for undertaking Trigeneration projects. Shri Santanu Roy, Executive Director (Business Development & Project Development) signed the MoU on the behalf of GAIL, while Shri Amit Kumar Kaushik, Executive Director (Strategic Growth) inked the MoU L in the presence of Shri Manoj Jain, C&MD – GAIL and Shri Saurabh Kumar, MD – EESL through video conference.
Trigeneration or Combined Cooling, Heat and Power (CCHP) typically involves natural gas-fired generators to produce electricity. The waste heat from flue gas is recovered to produce hot water / steam which in turn used for heating purposes and also in absorption chillers for cooling.
During the signing ceremony, Shri Manoj Jain stated, “There is a significant market potential for trigeneration projects in India, particularly small industrial & commercial sectors and office buildings. As trigeneration business is at initial stage, the collaboration would enable to take first mover advantage in the trigeneration business similar to GAIL’s city gas business. Further, it would also push gas usage in new applications which is in line with GAIL’s Strategy 2030. Accordingly, the strategic partnership between GAIL & EESL is a win-win situation for both the companies”.
Shri Saurabh Kumar, Managing Director, EESL added, “The intervention potential of trigeneration technology in revolutionising India’s energy landscape is significant. EESL is proud to pioneer the effort towards harnessing this potential with GAIL which will set a precedent for upcoming trigeneration projects. I wish both the parties all the very best for the successful implementation of this initiative”.
Read Also : Air Chief Marshal VR Chaudhari, CAS presented Presidential Awards to 51 IAF personnel
News Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station