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Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a ₹5,070 crore scheme to build 5,000 MW of Floating Solar PV with co-located Energy Storage Systems (minimum 2-hour/10,000 MWh storage).
Central Financial Assistance: ₹1 crore per MW after commissioning, plus up to ₹50 lakh per project for feasibility studies such as bathymetry and hydrography.
Projects will be sanctioned FY 2026-27 to FY 2030-31, with disbursement continuing to FY 2032-33, based on NISE's estimate of ~102.18 GWp of floating solar potential nationwide.
Expected to cut ~10 million tonnes of CO2 annually and create 16,000-17,000 full-time-equivalent jobs, scaling India's floating solar capacity from ~700 MW today.
Solarise agriculture — decentralised ground-mounted solar plants and solar/solarised farm pumps
Key: Launched March 2019; three components (A: 10,000 MW decentralised plants, B: 14 lakh standalone solar pumps, C: 35 lakh grid-connected pump solarisation); target ~34,800 MW by March 2026, CFA ₹34,422 crore
Make India a global hub for green hydrogen production, usage and export
Key: Approved 4 January 2023, outlay ₹19,744 crore to FY 2029-30, targeting 5 MMT green hydrogen production annually by 2030
Mandate a rising share of electricity consumption to be met via renewable energy stored in storage systems
Key: Notified by Ministry of Power on 22 July 2022; trajectory rises from 1% in FY 2023-24 to 4% by FY 2029-30
Nodal ministry for PM-SSY and India's renewable energy policy; originated as the Department of Non-Conventional Energy Sources (1982), renamed MNRE in 2006
MNRE's technical institute; its assessment of ~102.18 GWp floating solar potential underlies PM-SSY's design
| Aspect | PM-SSY (2026) | PM-KUSUM (2019) |
|---|---|---|
| Focus | Floating solar + storage on reservoirs/water bodies | Ground/stilt-mounted solar and agricultural pump solarisation |
| Outlay | ₹5,070 crore | ₹34,422 crore (CFA) |
| Target | 5,000 MW floating solar with storage | ~34,800 MW solar capacity by March 2026 (agri-focused) |
Solar panels mounted on floating structures anchored on reservoirs, industrial ponds or other inland water bodies, rather than on land or rooftops. Water beneath the panels has a cooling effect that can improve panel efficiency, and the approach avoids competing for scarce land while also reducing evaporative water loss from the reservoir.
Simple Analogy: Like putting solar panels on a raft instead of a rooftop — the panels float on water that keeps them cool, and no farmland or forest has to be cleared for them.
India's largest operating floating solar project (278 MW operational, scaling to 600 MW; inaugurated by the Prime Minister in December 2024) — the scale of project PM-SSY aims to replicate nationally
GS Paper 3 > Infrastructure > Energy; Environment > Renewable Energy
New scheme (2026) — likely to recur as sanctions and progress figures are reported
Solar panels mounted on floating platforms on water bodies rather than on land, reducing land-use competition and benefiting from water's cooling effect
A Ministry of Power mandate requiring a rising share of electricity consumption to be sourced from renewable energy via storage systems, from 1% (FY 2023-24) to 4% (FY 2029-30)