Govt clears floating solar capacity boost, PM-Kisan extension
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved extending the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme until FY31 with an outlay of ₹3.15 lakh crore.
The Cabinet cleared the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) to develop 5,000 MW of floating solar capacity with battery storage, with a ₹5,070-crore outlay.
PM-SSY projects will include a minimum energy storage capacity of two hours (10,000 MWh), and Central Financial Assistance of ₹1 crore per MW will be provided after commissioning.
An additional CFA of up to ₹50 lakh per project is available for feasibility studies, including bathymetry and hydrography assessments.
The floating solar scheme is expected to reduce around 10 million tonnes of carbon dioxide emissions annually and generate about 16,000-17,000 full-time equivalent jobs.
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