India targets 5 GW of floating PV with co-located storage

<p>The Indian government has approved a INR 50.7 billion ($533 million) program to support the deployment of 5 GW of floating solar PV projects paired with energy storage systems. </p>

<p>The scheme, known as Pradhan Mantri Surya Sarovar Yojana (PM-SSY), aims to expand floating solar capacity by utilizing existing reservoirs and industrial ponds, in turn reducing competition for scarce land resources while improving grid reliability through integrated energy storage.</p>

<p>It will target 5 GW of floating solar with co-located energy storage systems with a minimum storage capacity of two hours. The projects are expected to be sanctioned from financial years (FY) 2026-27 to 2030-31, with disbursement of financial support continuing up to FY 2032-33.</p>

<p>The program will offer central finance assistance of INR 10 million/MW for eligible floating solar photovoltaic projects after successful commissioning, as well as up to INR 5 million per project to cover feasibility studies, including bathymetry and hydrography assessments, environmental studies, and other preparatory activities required for de-risking project development.</p>

<p>The approval follows a recent assessment undertaken by India&#8217;s National Institute of Solar Energy (NISE), which estimated the country&#8217;s floating solar potential at approximately 102.18 GWp across reservoirs and other suitable inland water bodies . </p>

<p>India currently has around 700 MW of installed floating solar PV capacity.</p>
<p>The post <a href="https://www.pv-magazine.com/2026/08/06/india-approves-inr-5070-crore-scheme-for-5-gw-of-floating-solar-with-storage/">India targets 5 GW of floating PV with co-located storage</a> appeared first on <a href="https://www.pv-magazine.com">pv magazine Global</a>.</p>