KSEB Signs Pact With SECI For 500 MW Solar Power

KSEB Signs Pact With SECI For 500 MW Solar Power

The Kerala State Electricity Board (KSEB) has now signed an agreement with the Solar Energy Corporation of India (SECI) to boost the growth of solar energy in the southern state. This new deal is aimed at reducing power purchase costs by at least 10%. With this collaboration, the state board plans to add 500 MW of new solar power projects in the state.

Under the agreement, KSEB will procure 500 MW of solar power from SECI. The deal, valued at Rs 3.49 per unit, will start supplying power by September 2026. This agreement spans 25 years and includes a provision to deliver part of the supply during peak-demand hours after 6 p.m.

The Kerala State Electricity Board had spent ₹12,983 crore on power purchases in 2023-24. By lowering these costs, the state aims to manage its power expenses more efficiently while increasing its reliance on renewable energy sources. In addition to its renewable energy capacity, Kerala is making strides in cost reduction.

Kerala currently has a total of 3,437 MW of installed capacity of green power, emanating from non-fossil fuel sources. The state currently has a total of 1,864 MW of large hydro projects. It also has a total of 1230 MW solar power.

The state is also one among the eight Indian states having wind power projects. The state has a total of 63 MW of wind power projects. The state has a total of 882 MW of rooftop solar projects.