Pradhan Mantri Surya Sarovar Yojana (PM-SSY)
The Pradhan Mantri Surya Sarovar Yojana (PM-SSY) is a central-sector initiative approved by the Union Cabinet to enhance India's renewable energy capacity.
Key Features of the Scheme
- Objective:
- To build 5,000 MW of floating solar photovoltaic (FSPV) capacity on India's reservoirs and water bodies.
- Financial Outlay:
- Total outlay of ₹5,070 crore.
- Central Financial Assistance (CFA) of up to ₹1 crore per MW provided after plant commissioning.
- Energy Storage Requirement:
- Each project must include an energy storage system of at least two hours, totaling 10,000 MWh, to help States manage peak demand.
- Implementation:
- The Solar Energy Corporation of India (SECI) is responsible for implementing the scheme.
- The scheme is expected to attract investment of around ₹28,500 crore.
Current Context
- Existing Capacity:
- India's current installed floating solar capacity is approximately 0.7 GW.
- Potential:
- The potential for floating solar capacity in India is estimated to be 102 GW.
