Can ‘floating’ solar boost India’s renewable energy uptake? | Explained
The Indian government has launched the PM-SSY scheme to develop 5,000 MW of floating solar capacity on reservoirs to address land scarcity issues. These projects include mandatory energy storage to help manage peak demand and grid stability.
Why it matters
Floating solar provides a scalable alternative to land-intensive energy projects, helping India meet its renewable energy targets while optimizing existing water infrastructure.
The story so far: The Union Cabinet has cleared the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a central-sector scheme to build 5,000 MW of floating solar photovoltaic (FSPV) capacity on India’s reservoirs and waterbodies. It carries a total outlay of ₹5,070 crore and offers Central Financial Assistance (CFA) of up to ₹1 crore per MW, released only after a plant is commissioned.
Every project must be paired with an energy storage system of at least two hours, collectively 10,000 MWh in all, so that States can use the stored power to meet peak demand. The Solar Energy Corporation of India (SECI) will implement the scheme, which the government expects to draw about ₹28,500 crore in investment. India currently has an installed floating solar capacity of about ~0.7 GW against a potential of 102 GW.
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