Pradhan Mantri Surya Sarovar Yojana

About Pradhan Mantri Surya Sarovar Yojana Latest News

It is a scheme for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS).

Features  of Pradhan Mantri Surya Sarovar Yojana

• It envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems having a minimum storage capacity of two hours i.e.,10,000 MWh.
• Time Period: The projects will be sanctioned during FY 2026-27 to FY 2030-31, with disbursement of financial support continuing up to FY 2032-33.
• Financial Assistance: Central Financial Assistance (CFA) of Rs. One crore per MW will be provided for eligible Floating Solar Photovoltaic projects after successful commissioning.
• In addition, CFA of up to Rs.50 lakh per project will be available for undertaking feasibility studies, including bathymetry and hydrography assessments, environmental studies, and other preparatory activities required for de-risking the project development.

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Significance of  Pradhan Mantri Surya Sarovar Yojana

• It would enhance the floating Solar PV capacity in the country by 5,000 MW, which is presently around 700 MW only.
• It would provide an opportunity to gainfully utilize existing reservoirs & industrial ponds, and eliminate competition for scarce land resources.
• The integration of an energy storage system will help strengthen grid reliability.
• It would help in the reduction of around 10 million tonnes of CO₂ emissions annually.
•  It would help in the generation of approximately 16,000–17,000 full-time equivalent employment opportunities across the project value chain.
• The scheme would also promote domestic manufacturing of floatation systems as well as the entire value chain of the projects.

Source: PIB