Kerala has released key allocations for power, renewables and rare earth critical minerals sector.
As part of the budget, the state is set to invest Rs 420 billion to develop a rare earth corridor connecting Vizhinjam port to Chavara and onward to Kochi. The state budget has also earmarked Rs 1 billion to set up a Rare Earth Critical Minerals Mission in partnership with Kerala Minerals and Metals Limited (KMML), Kerala State Electronics Development Corporation (KELTRON) and the Nonferrous Materials Technology Development Centre (NFTDC). The allocation for the power sector has been raised to Rs 13.09 billion of which Rs 12.39 billion is marked for Kerala State Electricity Board projects and Rs 0.71 billion for non-conventional and renewable energy sources. Other key allocations include Rs 50 million each for battery energy storage systems and pumped storage projects, Rs 312.2 million for smart meter installation and Rs 1.50 billion for externally aided projects such as energy efficiency Indian grid and Green Energy Corridor Phase II.