Key Features of the Scheme
- Ministry: Ministry of New and Renewable Energy (MNRE).
- Total Outlay: ₹5,070 crore.
- Implementation Timeline: FY 2026-27 to FY 2030-31 (Disbursements extend to FY 2032-33).
- Targets:
- New Capacity: 5,000 MW of floating solar PV (FSPV) projects (presently ~700 MW).
- Energy Storage: 10,000 MWh of co-located energy storage, ensuring a minimum two-hour storage duration.
- Financial Assistance:
- Central Financial Assistance (CFA): ₹1 crore/MW for eligible projects after successful commissioning.
- Project Support: Up to ₹50 lakh/project for feasibility studies (bathymetry, hydrography, and environmental assessments) to reduce project risks.
Significance of the Scheme
- Harnessing Floating Solar Potential: India has ~102.18 GWp of solar potential across reservoirs and other suitable inland water bodies (as per National Institute of Solar Energy).
- Environmental Benefits: Expected to cut CO₂ emissions by nearly 10 million tonnes annually, while supporting India’s 500 GW non-fossil fuel target by 2030 and Net Zero goal by 2070.
- Land & Water Conservation: Utilises existing reservoirs, canals, and industrial ponds, avoiding competition for scarce land.
- Further, shading reduces water evaporation by up to 60%.
- Higher Efficiency: Water cooling increases energy generation; lower dust accumulation reduces cleaning costs and power loss.
- Other: Grid Reliability; Employment Generation (16,000–17,000 full-time jobs); Boost to Domestic Manufacturing (floating platforms, photovoltaic cells, energy storage systems).
