PM Surya Sarovar Yojana: Cabinet approves Rs 5,070 crore scheme for floating solar projects
The Union Cabinet approved the PM Surya Sarovar Yojana (PM-SSY) to establish 5,000 MW of Floating Solar PV (FSPV) capacity in India.
The scheme has a total outlay of Rs 5,070 crore and will support up to Rs 1 crore per MW, over a period of 5 years.
FSPV projects will include a minimum of 2-hour Energy Storage Systems (ESS), totaling 10,000 MWh to help states manage peak demand.
Projects will be selected through tariff-based competitive bidding, and the scheme aims to increase India's floating solar capacity from nearly 700 MW to 5,000 MW.
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