Mahindras to invest Rs 16 crore to replace LEDs at 18 plants

A showroom attendant cleans a Mahindra XUV500 car inside the company's showroom in Mumbai May 30, 2013. Mahindra and Mahindra Ltd , India's biggest utility vehicle manufacturer, said on Thursday consolidated operating margin for the fiscal fourth quarter rose to 14.4 percent from 12 percent a year earlier. REUTERS/Danish Siddiqui

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Auto major Mahindra & Mahindra today said it has invested Rs 16 crore to replace LED lights at 18 manufacturing sites in a tie-up with the state-run Energy Efficiency Services Limited (EESL).

The two parties signed an agreement towards the project, that envisages saving 20 million units of electricity per annum.

"This collaboration is EESL's first private sector engagement to promote energy efficient appliances in a working space and is aimed at encouraging private sector to adopt energy efficient appliances," a joint statement said.

While the Mahindras will be investing Rs 16 crore for the project, EESL will render technical assistance, cost efficient procurement and project management services.

"This partnership marks a very significant step towards promoting an energy efficient lifestyle among corporates and large facilities in India," EESL managing director Saurabh Kumar was quoted as saying in the statement.

He said the company, a joint venture of state-run companies engaged in the energy space, seeks more such collaborations with the private sector to adopt energy efficient appliances that will help them in reducing operational costs.

Stating that the Mahindras look at sustainability as a business strategy, its managing director Pawan Goenka said the company has also encouraged suppliers, dealer partners and employees to adopt energy efficient solutions and reduce carbon emission.

Apart from these facilities, energy audits are being undertaken at six other manufacturing facilities to explore further energy saving opportunities like waste heat recovery, energy efficient motors and heating, ventilating and air- conditioning, the statement said.

Last year, the company had made a commitment to double energy productivity by 2030 and also invest USD 10 per tonne of carbon emitted in technologies to reduce its carbon footprint.

In June this year, Mahindra had tied up with EESL to make the homes of its employees energy efficient, the statement said, adding 20,000 staffers have signed up for it.