Power minister Piyush Goyal on Monday said the government would invest in an ambitious energy-efficient irrigation scheme, which entails procuring 30 million sophisticated pump sets for farmers, the cost of which would be recovered through savings in the electricity consumed. Officials privy to the plan said the scheme would cost about Rs.75,000 crore over the next three to four years.

“This cost could be recovered by the end of the scheme period as the 37% annual reduction in power consumption to be achieved by farmers using the new equipment will lead to a cost saving of Rs.15,000 crore a year for power distribution companies and about Rs.5,000 crore for states that subsidize electricity to farmers,” said an official at Energy Efficiency Services Ltd, (EESL). EESL is a joint venture of NTPC Ltd, India’s largest power producer, Power Finance Corp. Ltd, Rural Electrification Corp. Ltd and Powergrid Corp. of India Ltd.

http://www.livemint.com/Politics/XznSUqjON4rhD3xiCNTV1K/Govt-to-invest-in-scheme-to-check-power-wastage-in-farm-sect.html

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