Revised Budget places emphasis on renewable energy for Kerala’s future energy security
The United Democratic Front (UDF) government’s Revised Budget places emphasis on the aggressive promotion of renewable energy sources for meeting Kerala’s future energy needs. The
The United Democratic Front (UDF) government’s Revised Budget places emphasis on the aggressive promotion of renewable energy sources for meeting Kerala’s future energy needs. The Budget has earmarked ₹100 crore for renewable energy, green hydrogen, and alternative energy sources. Under these initiatives, efforts will be made to deploy floating solar panel systems, pumped storage projects (PSP) as well as large-scale battery energy storage systems (BESS) and, in the panchayats, community-based BESS.
“Pumped Hydro Energy Storage (PSP) stands as a highly promising technology for Kerala’s future energy landscape. Alongside conventional renewable energy sources, by converting this energy into green ammonia, green methanol and green hydrogen, Kerala can evolve into a Green Hydrogen Hub,” Chief Minister V.D. Satheesan noted in his Budget speech. Further, the cooperative sector will be made a partner in renewable energy projects undertaken under the leadership of the Power department.
A scheme titled ‘100% Energy Self-Sufficient Co-operative Societies’ will be implemented to promote the participation of the cooperative sector in renewable energy. Overall, the Revised Budget has allocated ₹1,284.75 crore for the energy sector. Of this, ₹1,218.71 crore is meant for the Kerala State Electricity Board (KSEB) through various funding sources for energy sector development.
₹66.04 crore is allocated for non-conventional and renewable energy sources.
The BriefWire