Cabinet Approves Rs 5,070 Crore PM Surya Sarovar Yojana for 5 GW Floating Solar Projects
The scheme will be implemented between FY 2026-27 and FY 2030-31, with financial support continuing until FY 2032-33. It aims to accelerate floating solar deployment by utilising reservoirs and other inland water bodies, reducing pressure on scarce land resources while improving grid reliability through co-located battery storage.
Under the scheme, developers will receive Central Financial Assistance (CFA) of Rs 1 crore per MW after successful project commissioning. An additional CFA of up to Rs 50 lakh per project will be provided for feasibility studies, including bathymetry, hydrography, environmental assessments and other preparatory activities.
The approval follows an assessment by the National Institute of Solar Energy (NISE), which estimates India's floating solar potential at about 102.18 GWp. The scheme is expected to increase the country's floating solar capacity from the current around 700 MW to 5,700 MW.
PM-SSY is projected to reduce around 10 million tonnes of CO₂ emissions annually, generate 16,000-17,000 full-time equivalent jobs, strengthen domestic manufacturing of solar modules, energy storage systems and floating platforms, and support India's renewable energy and climate goals under the vision of Aatmanirbhar Bharat and Viksit Bharat.
Published on:
03 August 2026
Share:
We Value Your Comment
