Floating solar is set to play a bigger role in India’s renewable energy journey. With the approval of the PM Surya Sarovar Yojana, the government has introduced a dedicated initiative to support the development of this segment.
- Cabinet approves ₹5,070 crore scheme for 5,000 MW floating solar projects with integrated energy storage.
- ₹1 crore/MW Central Financial Assistance to support project development.
- Up to ₹50 lakh/project for feasibility studies, environmental assessments, and project preparation.
- Expected to create 16,000–17,000 jobs across the renewable energy value chain.
- Strong demand expected for MSMEs in:
- Solar modules and components
- Floatation systems
- Energy storage solutions
- Electrical equipment
- Engineering and EPC services
- Civil works and fabrication
- Operations and maintenance
- The scheme also encourages domestic manufacturing, creating opportunities for MSMEs aligned with the Aatmanirbhar Bharat initiative.
Reference: Press Information Bureau Release
