Pradhan Mantri Surya Sarovar Yojana

The Pradhan Mantri Surya Sarovar Yojana is a scheme for developing Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS). It aims to expand floating solar power generation while making productive use of existing water reservoirs and industrial ponds.

Key Features

The scheme envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems having a minimum storage capacity of two hours, equivalent to 10,000 MWh.

The projects will be sanctioned during FY 2026–27 to FY 2030–31, while the disbursement of financial support will continue up to FY 2032–33.

Under the scheme, Central Financial Assistance (CFA) of ₹1 crore per MW will be provided to eligible floating solar projects after their successful commissioning.

An additional CFA of up to ₹50 lakh per project will be available for feasibility studies, including bathymetry, hydrography, environmental studies and other preparatory activities required to de-risk project development.

Significance

The scheme is expected to increase India’s floating solar capacity by 5,000 MW, compared with the existing capacity of around 700 MW. It will enable the productive utilisation of existing reservoirs and industrial ponds, thereby reducing competition for scarce land resources.

The integration of Energy Storage Systems will improve grid reliability by supporting power availability beyond periods of solar generation.

The scheme is expected to contribute to the reduction of approximately 10 million tonnes of CO₂ emissions annually, supporting India’s clean-energy and climate goals.

It is also expected to generate around 16,000–17,000 full-time equivalent employment opportunities across the project value chain. In addition, the scheme will encourage domestic manufacturing of floating systems and strengthen the wider floating solar project value chain.