Archive · 31 Jul 2026
India Approves ₹5,070-Crore Floating Solar Scheme
India’s government has decided to build a big solar power system on water.
They will put solar panels on lakes and reservoirs, which will make electricity without taking up land.
The panels will also have batteries to store power for two hours.
This plan will add a lot of clean energy, cut pollution, and create many jobs.
The government will give money to help build these projects and to study how to do them safely.
The goal is to have 5,000 megawatts of solar power by 2030, which is a huge increase from the current 700 megawatts.
This will help India use its water better and keep the electricity grid stable.
Cabinet approved the Pradhan Mantri Surya Sarovar Yojana, allocating ₹5,070 crore for 5,000 MW of floating solar PV projects with energy storage.
The scheme will add 5 GW of floating solar capacity, up from 700 MW, and is expected to cut 10 million tonnes of CO₂ annually.
Central Financial Assistance of ₹1 crore per MW will be provided after commissioning, with up to ₹50 lakh per project for feasibility studies.
Projects must include at least two hours of battery storage (10,000 MWh total) and will be commissioned between FY 2026‑27 and FY 2030‑31, with disbursement until FY 2032‑33.
The initiative aims to create 16,000–17,000 jobs, boost domestic manufacturing of floating solar components, and reduce pressure on scarce land resources.
- Who
- Indian Union Cabinet, led by Prime Minister Narendra Modi, with New and Renewable Energy Minister Pralhad Joshi and National Solar Energy Federation CEO Subrahmanyam Pulipaka
- What
- Approval of a ₹5,070‑crore scheme to develop 5,000 MW of floating solar PV projects with integrated energy storage
- When
- Friday
- Where
- India (New Delhi)
- Why
- To expand renewable energy, reduce CO₂ emissions, create jobs, and use water bodies for solar without competing for land
- Scheme name
- Pradhan Mantri Surya Sarovar Yojana
- Total outlay
- ₹5,070 crore
- Target capacity
- 5,000 MW (5 GW)
- Energy storage
- 10,000 MWh (2 hours per MW)
- CFA per MW
- ₹1 crore
- CO₂ reduction
- 10 million tonnes annually
- Jobs created
- 16,000–17,000
- Implementation period
- FY 2026‑27 to FY 2030‑31 (disbursement until FY 2032‑33)
Sources
Cabinet clears Rs 5,070-crore floating solar scheme, targets 5 GW capacity
Cabinet Okays 5,000-MW Floating Solar Power Plants With Rs 5,070-Crore Outlay
Cabinet approves Rs 5,070 crore PM Surya Sarovar Yojana for floating solar power projects
