Cabinet approves ₹5,070-crore scheme for floating solar plants
The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana, a ₹5,070-crore scheme to accelerate floating solar power development. The scheme aims to achieve 5,000 MW of floating solar capacity by 2030-31, providing central financial assistance of up to ₹1 crore per MW. Projects under this scheme must include battery energy storage equivalent to at least two hours (10,000 MWh) to help states meet peak demand and manage renewable power fluctuations. This initiative seeks to diversify solar installations beyond land-intensive regions like Rajasthan and Gujarat, leveraging water bodies in states with limited land availability.
Key Points
- Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana for floating solar power.
- The scheme has an outlay of ₹5,070 crore and targets 5,000 MW capacity by 2030-31.
- It provides central financial assistance of up to ₹1 crore per MW.
- Projects must integrate battery energy storage to manage peak demand and renewable power fluctuations.
- The scheme aims to diversify solar installations, especially in states with large water bodies and limited land.
Exam Facts
- Scheme name: Pradhan Mantri Surya Sarovar Yojana.
- Outlay: ₹5,070 crore.
- Target: 5,000 MW by 2030-31.
- Implementing agency: Solar Energy Corporation of India.
- Largest project: Omkareshwar floating solar park (278 MW, plans for 600 MW) in Madhya Pradesh.
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