AIFI and the Bureau of Energy Efficiency Sign MoU to Promote Energy-Efficient Technologies

News Desk, News Nation 360 : The Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India, and the Association of Indian Forging Industry (AIFI), the highest authority for the Indian forging industry, have inked a Memorandum of Understanding (MoU). Under the Assistance for Deployment of Energy Efficient Technologies in Industrial Establishments (ADEETIE) program, this historic collaboration represents a major step towards advancing sustainable manufacturing practices in the forging sector. The Honourable Union Minister of Power and Housing & Urban Affairs, Manohar Lal, was present when this important Memorandum of Understanding was signed. Yash Munot, President of AIFI, emphasised the significance of the partnership, stating that forging in India has advanced significantly as a result of this partnership with the Bureau of Energy Efficiency. With forging being one of the most energy-intensive industries, the ADEETIE scheme's structured support could be extremely beneficial. Through the provision of financial incentives and technical assistance, this program will enable MSMEs to embrace advanced, energy-efficient technologies. It is exactly in line with their goal of creating an innovative, ecologically conscious, and globally competitive forging ecosystem. The ADEETIE scheme, initiated by the Ministry of Power and operated by the Bureau of Energy Efficiency (BEE), assists MSMEs in 14 energy-intensive industries, such as forging. It is aimed at enabling these enterprises to employ the most efficient energy technologies. The scheme offers an entire gamut of assistance. This includes interest subsidy on technology adoption loans. It also provides hands-on assistance for energy audits. It advises companies on project implementation and monitors projects once they are installed. The scheme also has a special project management unit and a lead banking partner to ensure everything functions smoothly. The overall cost of the scheme is ₹1,000 crore. This is likely to support more than ₹9,000 crore worth of investments. This comprises ₹6,750 crore in loans for MSMEs. The forging units will receive interest subsidies. Micro and small businesses will be subsidised by 5%. Medium-sized businesses will get 3% subsidised. They will be able to afford energy-efficient solutions.

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