PM Surya Sarovar Yojana: Cabinet approves Rs 5,070 crore scheme for floating solar projects
Looking to post solar energy generation capacity, Prime Minister Narendra Modi-led cabinet on Friday approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) scheme. The scheme targets establishing 5,000 MW of Floating Solar PV (FSPV) capacity in the country.This is a more than seven-fold increase over the nearly 700 MW installed today, IT minister Ashwini Vaishnaw said. The scheme has been approved for a period of 5 years. It will support up to Rs 1 crore per MW under the scheme with total outlay of Rs 5070 crore.FSPV projects will include a minimum of 2-hour Energy Storage Systems (ESS), totalling 10,000 MWh which will help states manage peak demand, the minister said. The projects will be selected through tariff-based competitive bidding
Benefits of Floating Solar Photovoltaic
The government listed the following benefits of the scheme:
- No additional land acquisition required
- Will create an opportunity to productive use of existing reservoirs, canals and industrial ponds for
solar power generation - Will lower dust levels on the solar panel, meaning fewer soiling losses, reduced cleaning costs and higher sustained generation efficiency
- Will significantly reduces evaporation from the host water body, conserving water for irrigation, industry and drinking supply
- Will open up solar capacity in states that are constrained on land but have large reservoirs and water bodies available
This story is being updated
