Representational image. (Photo: IstockPhoto / Andrzej Rostek)
Thiruvananthapuram: The Kerala State Electricity Board (KSEB) has sought regulatory approval for an agreement to procure 200 MW of renewable energy from the Solar Energy Corporation of India Limited (SECI) at a low tariff for a period of 25 years.
Under the proposed agreement, KSEB will receive power at a tariff of ₹2.93 per unit. Although the electricity will be generated from solar power plants during the daytime, it can be utilised in Kerala during the peak demand period between 6 pm and midnight.
SECI will procure the power from Welspun Renewable Energy Private Limited at ₹2.86 per unit and supply it to KSEB after adding a 7-paise trading margin, taking the final tariff to ₹2.93 per unit. This is among the lowest tariffs available for power supplied during peak demand hours.
The agreement also includes a penalty clause under which SECI will have to pay 1.5 times the contracted tariff if it fails to supply the committed quantity of electricity.
The KSEB Board of Directors has approved the proposal. After finalising the draft power purchase agreement with SECI, the utility has approached the State Electricity Regulatory Commission for its approval.
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