Kotak Mahindra, IITM launch Save Energy Mission

Under the initiative, satellite centres will be set up at IIT Bombay, IIT Gandhinagar, IIT Indore, IIT Ropar, while the hub of Save Energy Mission will be at IIT Madras.

Kotak Mahindra Bank Limited and the Indian Institute of Technology-Madras (IITM) have collaborated to launch Kotak IITM Save Energy Mission. Union Minister for Education and Skill Development & Entrepreneurship Dharmendra Pradhan inaugurated the initiative. 

Under Kotak’s corporate social responsibility project on Environment and Sustainable Development, Kotak is funding IITM to establish five centres across India to promote energy efficiency for the micro, small and medium enterprises (MSME) sector. IITM on the Chennai campus will be the hub of Kotak IITM Save Energy Mission, which in turn will engage with IIT Bombay, IIT Gandhinagar, IIT Indore and IIT Ropar to establish four satellite centres for carrying out energy efficiency and performance audits and encouraging adoption of various energy conservation measures in the Indian MSME sector.  

These audits will identify inefficiencies in energy utilisation, process operations and safety-related concerns. The hub at IITM will monitor and implement energy assessment activities across India. The satellite centres will identify MSMEs that qualify for industrial energy assessment services and carry out audits and share recommendations for saving energy with them. Further, Kotak IITM Save Energy Mission will provide assistance and training to MSMEs for periodic audits. Furthermore, an online platform will be developed to maintain the entire database on the energy audits conducted. 

IITM Director V Kamakoti said, “We are excited to launch Kotak IITM Save Energy Mission, which will enable IITM faculty and students to work with the MSME sector and help them become energy efficient.” 

Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “Kotak Mahindra Bank is committed to promoting energy conservation and Kotak IITM Save Energy Mission is a step in the direction to encourage SMEs and MSMEs to adopt environmentally sustainable technologies and processes. The SMEs and MSMEs need support and guidance to implement environmentally responsible measures in their units. Kotak’s CSR partnership with IITM is an endeavour to help SMEs and MSMEs reduce waste, save on audit costs and implement energy-saving measures.” 

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