In Brief:
- Major Clean Energy Push: The scheme targets 5,000 MW of floating solar photovoltaic capacity integrated with 10,000 MWh of co-located battery energy storage.
- Financial Assistance: The Centre will provide Central Financial Assistance (CFA) of ₹1 crore per MW post-commissioning, alongside up to ₹50 lakh per project for feasibility studies.
- Land & Water Conservation: Utilizing reservoirs and inland water bodies avoids land acquisition disputes while cutting water evaporation losses.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with a total financial outlay of ₹5,070 crore. Designed to tap India's estimated 102.18 GWp floating solar potential, the initiative aims to deploy 5,000 MW of floating solar capacity alongside 10,000 MWh of mandatory battery energy storage across reservoirs and inland water bodies between FY 2026–27 and FY 2030–31.
By eliminating fresh land acquisition, reducing water evaporation, and boosting panel efficiency via natural cooling, the project is expected to abate nearly 10 million tonnes of carbon dioxide emissions annually while strengthening grid reliability across all States and Union Territories.
