Pradhan Mantri Surya Sarovar Yojana
¨
Union Cabinet approved
the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) on 31 July 2026.
¨
The scheme aims to expand
floating solar power capacity in India.
¨
A total financial outlay
of ₹5,070 crore has been approved for the scheme.
¨
The scheme targets the
development of 5,000 MW of Floating Solar Photovoltaic (FSPV) projects by
2030-31.
¨
PM-SSY is a Central
Sector Scheme for setting up floating solar projects on reservoirs and other
suitable inland water bodies.
¨
Under the scheme, Central
Financial Assistance (CFA) of ₹1 crore per MW will be provided for eligible
projects after commissioning.
¨
Floating Solar
Photovoltaic (FSPV) systems involve installing solar panels on water surfaces
instead of land.
¨
India currently has
around 700 MW of installed floating solar capacity.
¨
The Omkareshwar Floating
Solar Park in Madhya Pradesh contributes a major share of India’s floating
solar capacity.
¨
The scheme also includes
co-located Energy Storage Systems to ensure better power management.
¨
The projects will have a
minimum energy storage capacity of two hours, equivalent to 10,000 MWh.
¨
Projects under the scheme
will be sanctioned between FY 2026-27 and FY 2030-31.
¨ Financial support under the scheme will continue up to FY 2032-33.
¨ The scheme is an important step towards increasing India’s renewable energy capacity, reducing dependence on land-based solar installations, utilizing water bodies efficiently, and accelerating the country’s transition towards clean energy.
