Floating solar projects to be fired up by Rs 5,000 cr scheme

The Cabinet has approved the Pradhan Mantri Surya Sarovar Yojana with a significant outlay. This scheme aims to develop 5,000 MW of floating solar projects with energy storage. Projects will be sanctioned from FY27 to FY31, with financial support extending to FY33. It will utilize existing water bodies, eliminating land competition and strengthening grid reliability. Central aid of ₹1 crore per MW will be provided for eligible projects after commissioning.

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