The State government is targeting 1000 MW installed capacity in solar energy in 2024-25, Finance Minister K. N. Balagopal said, presenting the 2024-25 State Budget on Monday.
The total Budget allocation for the State’s energy sector for 2024-25 is ₹ 1150.76 crore.
The Budget has set aside money for pursuing renewable energy goals, exploring new hydro potential and renovation of existing large hydropower projects.
₹15 crore will be spent on investigation and preparation of detailed project reports for new hydroelectric projects. The government will also spend ₹20 crore on renovation and modernisation of hydroelectric projects that are 35-40 years old. This is in order to “improve their performance and extend useful life,” the Budget noted.
‘Resilient construction’
₹18.18 crore has been set apart for “flood-resilient construction” in generation, transmission and distribution wings. The Kerala State Electricity Board (KSEB) had reported heavy damage to its assets during the 2018 and 2019 floods.
₹37.30 crore will be spent on renewable energy programmes such as solar thermal applications and e-mobility. Out of this, ₹3.50 crore will be used for solar electrification of unelectrified remote tribal areas. An amount of ₹7.40 crore is earmarked for the KSEB, the nodal agency for Electric Vehicles (EV) charging stations, for establishing new charging stations in all districts.
Presenting the Budget, the Finance Minister noted that 654.5 MW of electricity has been generated additionally, including 610 MW of solar energy and 44.5 MW of hydropower, during the current government’s term.
In addition to the aforementioned allocations, the Budget has set apart ₹400 crore for Dyuthi, an ongoing project for streamlining power distribution. The Budget has also made allocations for various small and medium hydro projects across the State.
