New Delhi: The Union Cabinet on Friday cleared a Rs 5,070 crore scheme titled Pradhan Mantri Surya Sarovar Yojana Scheme, which will develop floating solar panels on water bodies, reservoirs, and lakes. According to a government press release, the scheme aims to establish 5,000 MW or 5 GW of floating solar capacity by 2030.
Under the scheme, the government will provide Rs 1 crore per megawatt (MW) of solar capacity installed, after the project is commissioned. As part of Central Financial Assistance, the government also said it would provide an additional Rs 50 lakh for feasibility studies, risk assessments, and environmental impact studies before the solar projects are carried out.
Currently, India has 700 MW of floating solar projects, which is largely concentrated in the Omkareshwar Floating Solar Park in Madhya Pradesh. This 600 MW park began construction in 2022 and is said to be India’s largest floating solar project. It was jointly built by the Madhya Pradesh government and the Solar Energy Corporation of India (SECI).
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Floating solar parks
Floating solar parks are seen as alternatives to land-based solar parks in areas where land is scarce. They also serve dual purposes by both harnessing solar technology and preventing water evaporation. According to a report by Tata Power, solar panels over water bodies also sometimes boost efficiency because the reflective nature of the water enhances the level of sunlight that is reflected.
“These projects would provide an opportunity to gainfully utilise existing reservoirs and industrial ponds, and eliminate competition for scarce land resources,” said the government’s press release.
Other floating solar projects include NTPC’s Ramagundam project in Telangana, Kayamkulam project in Kerala, and Simhadri project in Andhra Pradesh.
Apart from building floating solar parks of 6,000 MW capacity, the Pradhan Mantri Surya Sarovar Yojana Scheme also accounts for building 10,000 MWh of Energy Storage Systems (ESS), which would be co-located with the solar parks.
These ESS would ensure that the solar energy generated from the solar parks is stored reliably, and enters the electricity grid in a planned fashion. The government plans to sanction projects under this scheme in all states, between 2026-27 to 2030-31. According to the press release, the scheme will generate more than 16,000 employment opportunities for solar technicians, engineers, and other workers across the project value chain.
India has a target of setting up 500 GW of non-fossil fuel electricity generation capacity by 2030, and this new scheme fits within that broader goal. Solar is the fastest-growing renewable energy in India, with over 150 GW of solar capacity currently installed in the country.
(Edited by Janaki Pande)