The Asian Development Bank (ADB) is funding a pilot program in China's southern Guangdong province to bring energy-efficient technology to major power consumers, the lender said on Friday.
Under the Energy Efficiency and Environment Improvement Investment Program, ADB is providing a 100 million-U.S. dollar multi-tranche loan to the heavily-industrialized province, the multilateral development institution said in a press release.
The Guangdong province government will use the money to grant loans to major energy consumers, funding projects to retrofit plants and buildings with energy-efficient technology, it added.
"Saving energy can be as simple as changing the type of lighting, using a more efficient motor or installing an energy-efficient air-conditioning system," said Siew Fing Wong, Senior Financial Analysis Specialist of ADB's East Asia Department.
"Taken separately, these initiatives yield small savings for a single energy consumer; however, taken together, they can save a community the equivalent of a large power plant," the specialist added.
"Improving energy efficiency is a high priority for the Guangdong Provincial Government to help address both energy security and environmental issues," said Wong.
"The province is a good setting for the investment program because of its vibrant economy and the huge impact that energy savings will have given its highly industrialized state," she said.
The implementation of the investment program is expected to lower coal consumption by 175,813 tons every year and result in annual energy savings of 533 GWh. End-users will also benefit from an estimated 43 million dollars in savings in their electricity bills, the lender added.
Since 1995, Guangdong has seen its population expand 2.2 percent annually, its gross domestic product grow 14 percent a year, outpacing the national average of 9.5 percent, and its power demand rise 13 percent annually, faster than its capacity increased.
Source: Xinhua
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