Union Cabinet Approves Pradhan Mantri Surya Sarovar Yojana for Floating Solar

Update for India renewable energy. Union Cabinet approved Pradhan Mantri Surya Sarovar Yojana, a ₹5,070 crore scheme to increase floating solar capacity. This scheme plans for 5 GW of floating solar projects with energy storage systems between fiscal years 2026-27 and 2030-31.

Project details

The government will use reservoirs and industrial ponds to address land shortage. Each project needs at least two hours of energy storage. To encourage participation, the scheme provides financial support of ₹1 crore per megawatt after commissioning. It also offers up to ₹50 lakh per project for required feasibility studies. India has a potential of over 102 GW, and this 5 GW plan is a step to increase production.