THIRUVANANTHAPURAM: The state can save up to Rs 9,000 crore 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 4505 crore 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 969 crore per annum. The total replacement of coal power contracts with renewable energy can save the state an estimated Rs 1,843 crore annually.
The report brought out by the think-tank Climate Risk Horizons, was released on Friday 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 organised 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.
Speaking on the occasion, R V G Menon, vice chairman of the Kerala Energy Management Centre said the state is in the midst of an energy revolution. “Reservoirs are key in producing renewable energy if floating solar and pumped storage are put in place. A preliminary study by the KSEB 10 years ago has shown that the total potential for pumped storage is over 5000 MW, just through existing reservoirs in the state,” he said. Dr Ashok Sreenivas, senior fellow, Prayas and officials of the KSEB and State Electricity Regulatory Commission were also present.