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Thiruvananthapuram: The Kerala State Electricity Board will receive a loan of Rs 919 crore from KfW Development Bank owned by the German Federal Government for installing green power lines. In addition to this, the union government will provide financial assistance worth Rs 139 crore for the same. The electricity board will raise the remaining Rs 399 crore required for the Green Energy Corridor project.
The union cabinet gave the nod for the state government and electricity board to enter into a contract with the German bank. The loan will be obtained at an interest rate of 3 to 4 per cent.
The Government of India and KfW Development Bank had already signed an agreement of Rs 1457 crore for development in Kerala.
Green electricity
The electricity produced from renewable resources such as wind, solar and hydro are collectively called green electricity. The Green Energy Corridor constitutes the electric lines and other infrastructures set up to synchronise the power generated from renewable resources with the conventional power stations in the grid.
Three projects drafted under Green Energy Corridor
The electricity board will roll out three projects under the Green Energy Corridor in the state. A solar power plant will be established in Kasaragod and the Northern Corridor will transmit electricity produced from here to the Kannur and Wayanad districts. The Attapadi and Idukki corridors will transmit electricity from wind farms in Attapadi and Ramakkalmedu, respectively.
Kerala will have 400 kV transmission lines installed from north to south through the Green Energy corridors. Minister for Electricity K Krishnankutty opined that the project would resolve voltage issues in the northern districts.
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