The scheme envisages development of 5,000 MW of floating solar photovoltaic projects with co-located energy storage systems having minimum storage capacity of two hours, which is 10,000 MWh.
The projects will be sanctioned from FY27 to FY31, with disbursement of financial support continuing up to FY33. “This will provide an opportunity to gainfully utilise existing reservoirs and industrial ponds, while eliminating competition for scarce land resources. It will also help in the integration of energy storage systems to strengthen grid reliability,” renewable energy secretary Santosh Kumar Sarangi said. The move is likely to help states with large water bodies by generating renewable energy on underutilised water surfaces.
“We are planning to work on floating solar as there are many water bodies including perennial ones and the scheme will support the plan,” Rahul Kumar, MD, North Bihar Power Distribution Company Ltd told ET. The National Institute of Solar Energy has estimated a floating solar potential of around 102.18 GWp across reservoirs and other inland water bodies. Under the scheme, central aid of ₹1 crore/MW will be provided for eligible projects after commissioning. Assistance of up to ₹50 lakh per project will be available for studies and other activities required for de-risking the project development.