Centre Approves Pradhan Mantri Surya Sarovar Yojana for Floating Solar Power

The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) on 1 August 2026 to promote floating solar power projects across India, with a financial outlay of ₹5,070 crore, targeting 5,000 MW of floating solar capacity along with 10,000 MWh of co-located energy storage.

Background

Floating solar installations, set up on water bodies like reservoirs and lakes, help conserve land, reduce water evaporation, and improve panel efficiency through natural cooling — making them an attractive addition to India's renewable energy mix as it pursues its non-fossil fuel capacity targets.

Key Highlights

• PM-SSY targets 5,000 MW of floating solar capacity with 10,000 MWh of co-located storage.
• Projects will be sanctioned from FY 2026-27 to FY 2030-31, with financial assistance continuing till FY 2032-33.
• Central Financial Assistance of ₹1 crore per MW will be provided after successful commissioning.

Environmental Relevance

Floating solar reduces water evaporation from reservoirs, supports dual land-water use efficiency, and contributes to India's renewable energy and climate commitments under its Nationally Determined Contributions (NDCs).

TNPSC Relevance

Renewable energy schemes, climate policy, and Cabinet-approved environment/energy initiatives are relevant to the Environment and Science & Technology sections of TNPSC exams.

Static GK Links

• India's renewable energy capacity target under its updated NDCs is 500 GW of non-fossil fuel capacity by 2030.

Exam Notes

Memory tip: PM-SSY = Floating solar, ₹5,070 crore, 5,000 MW target, ₹1 crore/MW CFA.

TNPSC MCQs