Kerala can save Rs 90bn in 5 Yrs by Switching to Renewable Energy – Report

The state can save up to Rs 90 billion in five years if coal power purchases are replaced with renewable energy contracts, according to a recent study. The study gains significance in the backdrop of a recent decision by the state government to move to 100 per cent renewable energy by 2040.

The report has suggested a transition pathway that proposes phasing out of the central power sector, saving the state Rs 45.05 billion in five years. According to the report, the state can replace its scheduled purchases of coal power from central plants with new renewable energy and can save around Rs 9.69 billion per annum. The total replacement of coal power contracts with renewable energy can save the state an estimated Rs 18.43 billion annually.

The report brought out by the think-tank Climate Risk Horizons, was released last month in the state capital. Additional chief secretary power, Forest and general Administration K R Jyothilal released the report at a Round-table on Energy Transition in Kerala’s Electricity Sector, jointly organized by Asar, Equinoct and SEEM.

The state has immense capacity to generate green power and become India’s green energy exporting hub, said KR Jyothilal. “Kerala imports close to 70 % of its power. Now it’s time to move on to energy independence. We are set on harnessing wind power in the state and developing green hydrogen,” he said.