PM Surya Sarovar Yojana: Cabinet Approves Rs 5,070 Crore Scheme for Floating Solar Projects
The programme targets 5,000 MW of projects with two hours of battery storage to support peak demand and reduce renewable power curtailment.
- On Friday, the Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana , a Rs 5,070 crore scheme targeting 5,000 MW of Floating Solar Photovoltaic capacity with co-located Energy Storage Systems.
- Land acquisition has increasingly emerged as a bottleneck for India's 500 GW non-fossil fuel electricity target, prompting the scheme to utilize existing reservoirs and avoid competition for scarce land resources.
- The Centre will provide Central Financial Assistance of Rs 1 crore per MW for eligible projects after commissioning, while the initiative is expected to generate approximately 16,000 full-time equivalent jobs.
- Reservoir-Based projects are expected to "diversify" installations geographically in States with limited land availability, while the scheme promotes domestic manufacturing of specialized components supporting the vision of Aatmanirbhar Bharat.
- Government estimates place floating solar costs about 25% higher than ground-mounted projects, though officials stated the financial support serves as a "nudge" to develop an alternative stream of solar capacity.
17 Articles
17 Articles
Solar plants will now float on water: Cabinet approves Rs 5,070 crore PM Surya Sarovar Yojana – All you need to know
In a significant step towards strengthening India’s renewable energy sector, the Union Cabinet on Friday approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), an ambitious Rs 5,070 crore Central Sector Scheme that will promote the large-scale deployment of floating solar photovoltaic (FSPV) projects integrated with energy storage systems. The scheme aims to establish 5,000 MW of floating solar power generation capacity along with 10,000 MWh…
Cabinet approves 'PM Surya Sarovar Yojana' for floating solar photovoltaic projects of ₹5,070 cr
The Union Cabinet chaired by Prime Minister Narendra Modi on Friday approved the 'Pradhan Mantri Surya Sarovar Yojana (PM-SSY)', a Scheme for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS) with a total outlay of Rs.5,070 crore.
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Times of IndiaPM Surya Sarovar Yojana: Cabinet approves Rs 5,070 crore scheme for floating solar projects
New Delhi, July 31: The Union Cabinet chaired by the Prime Minister Narendra Modi today approved the 'Pradhan Mantri Surya Sarovar Yojana (PM-SSY)’, a Scheme for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS) with a total outlay of Rs.5,070 crore. The scheme envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems having a minimum storag…
Cabinet Approves ₹5,070 Crore PM Surya Sarovar Yojana for 5,000 MW Floating Solar Projects
Get latest articles and stories on Business at LatestLY. The Union Cabinet on Friday approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a ₹5,070 crore scheme for the development of 5,000 MW of Floating Solar Photovoltaic (FSPV) projects with co-located Energy Storage Systems (ESS), aimed at expanding renewable energy capacity and strengthening grid reliability. Business News | Cabinet Approves ₹5,070 Crore PM Surya Sarovar Yojana for 5,0…
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