PM Surya Sarovar Yojana Approved

# PM Surya Sarovar Yojana Approved ### Why in News? The Union Cabinet approved the **Pradhan Mantri Surya Sarovar Yojana (PM-SSY)** to develop **floating solar projects** with integrated energy storage, backed by a total outlay of **₹5,070 crore**. ### What does the scheme offer? - The scheme targets **5,000 MW of floating solar photovoltaic capacity** and **energy storage systems** with a minimum **two-hour capacity (10,000 MWh)**. - Projects will be sanctioned between **FY 2026-27 and FY 2030-31**, with financial support extending to **FY 2032-33**. - **Central Financial Assistance** of **₹1 crore per MW** is provided after commissioning, plus up to **₹50 lakh per project** for feasibility studies like bathymetry and hydrography. - The initiative is expected to cut **CO₂ emissions by about 10 million tonnes annually** and create **16,000–17,000 full-time equivalent jobs**. ### Why floating solar? - Floating solar uses **reservoirs and industrial ponds**, avoiding the need for large land acquisition, a key advantage in land-scarce India. - India's current operational floating solar capacity is around **700 MW**, while the **National Institute of Solar Energy** estimates the potential at **102.18 GWp** across inland water bodies. - The scheme aligns with India's renewable energy goals by combining solar generation with storage to ensure grid stability. ### Exam Connect **PM Surya Sarovar Yojana** → Ministry of **New and Renewable Energy** **National Institute of Solar Energy** → Autonomous body under **MNRE**, HQ in **Gurugram**