Pradhan Mantri Surya Sarovar Yojana Launched for Floating Solar

Government launched Pradhan Mantri Surya Sarovar Yojana to increase renewable energy capacity in India. This scheme focuses on installing 5,000 MW of floating solar power by fiscal year 2030-31 with a budget of ₹5,070 crore. By using reservoir surfaces, the project avoids land problems common in ground-mounted solar setups.

Project support and requirements

Developers get Central Financial Assistance of ₹1 crore per MW after work is done. They also get up to ₹50 lakh per project for feasibility and environmental studies. To keep the grid stable, the scheme requires 10,000 MWh of battery storage. Although floating solar costs about 25% more than traditional systems, this move helps reach non-fossil fuel targets. Companies involved should watch for upcoming tenders because this work requires specialized engineering for water environments.