🌍 EESL Group: Ownership, Subsidiaries & International Expansion through EPAL and Edina
About EESL
Energy Efficiency Services Limited (EESL) established in 2009, is a joint venture of NTPC, PFC, REC, and POWERGRID under the Ministry of Power, Government of India. As the world’s largest public energy service company, EESL has led transformative programmes like UJALA and the Street Lighting National Programme, which have drastically reduced electricity consumption through large-scale LED adoption. It is also advancing smart metering, electric mobility, and energy efficiency consulting, using its unique model of bulk procurement and demand aggregation to make clean technologies affordable. Collectively, EESL’s initiatives save billions of units of electricity annually, cut carbon emissions, and contribute to India’s clean energy transition.
Ownership & Promoters
| Promoter | % Holding |
|---|---|
| NTPC Limited | 39.25% |
| Power Grid Corporation of India Ltd (PGCIL) | 39.25% |
| Power Finance Corporation Ltd (PFC) | 11.38% |
| REC Limited | 10.11% |
| Others/Nominees | <0.01% |
Government-owned through four Central Public Sector Enterprises (CPSEs) under the Ministry of Power: — NTPC, PGCIL, PFC and REC.
Vision & Mission
Vision: “Universal access to sustainable energy solutions to enable a low carbon future, with significant economic and social impact.”
Mission: “To enable ecosystems for responsible energy adoption with innovations and market creation approaches.”
Key Milestones
- 📅 2009 – EESL incorporated (December 10).
- 📅 2011 – Operations commenced (February 11).
- 📅 2015–2019 – UJALA & SLNP LED programmes achieve global recognition.
- 📅 2017 – JV formed in the UK: EESL EnergyPro Assets Ltd (EPAL/EEPAL) with EnergyPro Ltd.
- 📅 2018 – EPAL acquires Edina Group (UK/Ireland/Australia) for £55M (₹493 crore).
- 📅 2020 – EPAL/Edina recognised as Fastest Growing Indian Company in the UK (Grant Thornton CII Report).
- 📅 2024 – EESL consolidated net worth: ~₹1,497 crore.
Financial Performance (Recent Years)
| Year | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Net Worth (₹ Cr) |
|---|---|---|---|
| 2020-21 | 1,590 | -218 | 1,258 |
| 2021-22 | 1,591 | -218 | 1,258 |
| 2022-23 | 1,617 | +40 | 1,190 |
| 2023-24 | 1,774 | +92 (PBILDT) | 1,497 |
Group Subsidiaries & Structure
🇮🇳 Domestic Subsidiaries
- Convergence Energy Services Ltd (CESL) – 100% owned; focus on renewables, EVs, decentralised solar.
- Intellismart Infrastructure Pvt Ltd – JV for smart metering & grid analytics.
🌍 International Subsidiaries
- EESL Energy Solutions LLC (USA) – 100% owned, consultancy & ESCO projects.
- EESL EnergyPro Assets Ltd (EPAL/EEPAL, UK) – 86.80% owned by EESL, minority held by EnergyPro Ltd (UK).
EPAL & the Edina Acquisition
📌 Formation of EPAL (2017)
- EPAL was set up in the UK as a joint venture between EESL (India) and EnergyPro Ltd (UK).
- Purpose: serve as an international investment vehicle for UK, EU, and North America.
- Shareholding (as of 2024):
- EESL – 86.80%
- EnergyPro Ltd – 13.20%
📌 Edina Acquisition (2018)
- EPAL acquired Edina Group for £55 million (INR 493 crore).
- At acquisition:
- Turnover: ~£100 million.
- Market Share: ~27% in UK CHP sector.
- Workforce: ~200 employees + ~400 contractors.
- Recognition: First international acquisition by an Indian power sector PSU.
- Strategic Support: Backed by Indo-UK Energy for Growth Partnership (endorsed by PM Narendra Modi & UK PM Theresa May).
Edina Group Structure (Post Acquisition)
│
└── EPAL (UK JV with EnergyPro) – 86.80% owned by EESL
│
└── Edina Power Services Ltd (Ireland, Group HoldCo)
├─ Edina UK Ltd (UK CHP & energy services)
├─ Edina Power Ltd (Northern Ireland operations)
├─ Edina Ltd (Ireland manufacturing & engineering)
├─ Edina Australia Pty Ltd (Australia CHP market)
├─ EPSL Trigeneration Pvt Ltd (India CHP solutions)
├─ Anesco Energy Services (South) Ltd (UK EPC/consulting)
├─ Creighton Energy Ltd (UK consultancy)
└─ Stanbeck Ltd / Ammoura Holdings Ltd (group support entities)
Investments & Expansion Plans
- Acquisition value: £55M (₹493 crore) in 2018.
- Announced commitment: £150M (≈₹1,343 crore) for UK, EU, and North America expansion (2017–2019).
- Major order: ₹155 crore contract with Sterling & Wilson (UK) for Short-Term Operational Reserve projects.
Recognition & Media
- 🏆 2020 – EPAL/Edina named Fastest Growing Indian Company in the UK (Grant Thornton & CII report).
- 📈 Featured in The Economic Times and The Hindu Business Line for international expansion success.
- 🌱 Recognised for transferring CHP & trigeneration technology to India, supporting industrial decarbonisation.
Domestic Flagship Programmes
- UJALA – Distributed 370+ million LEDs.
- SLNP (Street Lighting National Programme) – Installed 13+ million smart streetlights.
- Smart Metering – Through Intellismart JV.
- EV Charging Infrastructure – National rollout under CESL.
🏁 Conclusion
EESL has evolved from being India’s domestic energy efficiency champion to a global clean energy investor. With 86.8% ownership of EPAL and the £55 million acquisition of Edina, EESL now controls a multi-national group spanning UK, Ireland, Australia, and India.
By combining the strength of India’s largest CPSUs with global technology leaders, EESL showcases how public sector innovation can scale across borders — ensuring sustainable, efficient, and affordable energy solutions worldwide.