EKI Energy Wins Second Tender from ISCDL to Monetize its Climate Initiatives

BSE-listed carbon credits developer and supplier EKI Energy Services Ltd (EKIESL) has won another tender from Indore Smart City Development Ltd (ISCDL) to monetize the carbon credits generated by the latter through numerous green initiatives.

ISCDL is a Special Purpose Vehicle (SPV) formed under the Smart City Mission of the Government of India.

Commenting on winning the contract, Manish Dabkara, CMD & CEO of EKI Energy Services, said, “this second contract that we have won from ISDCL is a testament for our commendable trajectory of consistently delivering state-of-the-art climate solutions. We are really excited and would like to thank the Government for trusting us yet again as their preferred partner. This win has enhanced our leadership as a climate change expert both nationally as well as globally. All of us at team EKIESL are geared up to continue offering our strategic solutions for mitigation and emission reduction.”

Under the contract, the Indore-based company will offer a comprehensive bouquet of end-to-end consulting services for carbon credit solutions to ISCDL.

2008-founded EKI Energy Services, also popularly known as EnKing International, will now enable ISCDL to elevate its aggregator business model through which it offers sustainable solutions to urban and rural governance bodies enabling other smart cities to become climate compliant.

Besides, ISCDL would also be able to monetize its emission reductions and realize additional revenue which it can use to support and fund its multiple welfare and developmental initiatives.

Consequently, local bodies of other cities that joined hands with ISCDL would also be able to monetize their climate initiatives.

“We have a strong ongoing relationship with EKI Energy Services Ltd for the last three years. Their strong performance and phenomenal service offerings have enabled us to fast-track our green initiatives and also monetize them for additional funds to support other projects. We are happy to extend our partnership with EKIESL as our climate finance enablers and together work towards the common goal of making the environment safer,” said Sunil Dubey, Executive Engineer, Indore Smart City Development Ltd.

Under its ongoing contract, EKI Energy Services enabled ISCDL to realize additional revenues of up to Rs 8.34 crore in the current financial year.

The company also enabled ISCDL to become the only Municipal Corporation in India and Asia to generate carbon finance through its sustainable initiatives and to register its project under VCS (Verified Carbon Standard, USA).

Additionally, the company’s advisory services for climate solution adoptions also significantly contributed to ISCDL’s initiatives to establish the city as India’s cleanest city for the fifth year in a row under the rankings by Swachh Survekshan 2021.

The company offers ISCDL an extensive bouquet of strategic technologies and solutions for the monetization of its numerous green initiatives including – Compost formation, Biomethanation, Energy Efficient Lighting, Sewage Treatment Plant, Retrofitting fossil fuel-driven Buses to run on CNG, Electric Vehicles and Charging Stations, Forestation activities, Bio-remediation of legacy waste, decentralized composting initiatives, etc.