PM Surya Sarovar Yojana Approved

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.