Cabinet Approves Pradhan Mantri Surya Sarovar Yojana for Floating Solar
Cabinet Approves Pradhan Mantri Surya Sarovar Yojana for Floating Solar
Why in the News ?
The Union Cabinet has approved the Pradhan Mantri Surya Sarovar Yojana, a ₹5,070-crore scheme to promote floating solar power projects. The initiative aims to achieve 5,000 MW of floating solar capacity by 2030–31, enhancing India’s renewable energy transition.
Key Features of Pradhan Mantri Surya Sarovar Yojana:
- The Pradhan Mantri Surya Sarovar Yojana has been approved with a total outlay of ₹5,070 crore to promote floating solar power projects across India.
- The scheme aims to install 5,000 MW (5 GW) of floating solar capacity by 2030–31 on reservoirs, dams, lakes, and other water bodies.
- Projects will receive Central Financial Assistance (CFA) of up to ₹1 crore per MW, encouraging greater investment in floating solar technology.
- The scheme will be implemented by the Solar Energy Corporation of India (SECI).
- Every supported project must include Battery Energy Storage Systems (BESS) capable of providing at least two hours of storage, creating a cumulative storage capacity of 10,000 MWh to improve grid stability and manage peak electricity demand.
Significance for India’s Renewable Energy Sector
- India currently has only about 0.7 GW of installed floating solar capacity, despite an estimated potential of nearly 102 GW, indicating substantial scope for expansion.
- Floating solar projects reduce dependence on large land parcels, addressing challenges related to land acquisition, rehabilitation, and resettlement associated with ground-mounted solar parks.
- The scheme will help diversify solar installations beyond Rajasthan and Gujarat, especially benefiting states with abundant water bodies but limited land availability.
- Battery storage integration will reduce renewable energy curtailment, improve grid reliability, and support greater integration of variable renewable energy.
- The initiative contributes to India’s commitments on clean energy, energy security, and climate change mitigation by expanding low-carbon electricity generation.
About Floating Solar Power:● Floating Solar Photovoltaic (FPV): A technology in which solar panels are mounted on floating structures installed over reservoirs, lakes, dams, irrigation canals, and other water bodies. ● Advantages of Floating Solar: ○ Reduces land requirement for solar projects. ○ Minimizes water evaporation from reservoirs. ○ Improves solar panel efficiency due to the cooling effect of water. ○ Helps reduce algal growth in some water bodies. ○ Facilitates integration with hydropower reservoirs, enabling better grid management. ● Solar Energy Corporation of India (SECI): ○ A Miniratna Category-I Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy (MNRE). ○ Responsible for implementing renewable energy schemes, conducting power procurement, and promoting solar and other clean energy technologies. |