Cabinet Approves Rs 5,070-Crore Floating Solar Scheme with 5 GW Target
UPSC / SSC current affairs note · Economy
Why in news
The Union Cabinet has approved the Pradhan Mantri Surya Sarovar Yojana, a Rs 5,070-crore scheme to develop 5,000 MW of floating solar projects integrated with 10,000 MWh of energy storage. This decision is significant for India's renewable energy expansion and energy security goals.
Background
India has been pushing to increase its renewable energy capacity, with a target of 500 GW by 2030. Floating solar projects are seen as a way to utilize water bodies without occupying land, and integrating storage helps address intermittency issues.
Key facts
The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana with an outlay of Rs 5,070 crore.
The scheme targets 5,000 MW (5 GW) of floating solar capacity.
It includes integration with 10,000 MWh of energy storage.
The scheme aims to boost renewable energy generation and enhance energy security.
Floating solar projects are typically installed on water bodies like reservoirs, lakes, and dams.
The integration of storage helps manage the intermittent nature of solar power.
The scheme is part of India's broader commitment to increase non-fossil fuel capacity.
Prelims pointers
- Pradhan Mantri Surya Sarovar Yojana
- Union Cabinet approval
- Rs 5,070 crore outlay
- 5,000 MW floating solar target
- 10,000 MWh energy storage
- Renewable energy
- Energy security
Mains angles
- Discuss the significance of floating solar projects in India's renewable energy transition.
- Analyze the role of energy storage in addressing the challenges of solar power intermittency.
- Evaluate the potential of the Pradhan Mantri Surya Sarovar Yojana in achieving India's climate commitments.