Cabinet approves PM Surya Sarovar Yojana for 5,000 MW floating solar with storage, outlay Rs 5,070 crore
On 31 July 2026 the Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) to develop 5,000 MW of floating solar projects with 10,000 MWh of energy storage at an outlay of Rs 5,070 crore.
Summary
The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for Floating Solar Photovoltaic (FSPV) projects with Energy Storage Systems, with an outlay of Rs 5,070 crore. It targets 5,000 MW of FSPV with co-located storage of at least two hours (10,000 MWh); projects will be sanctioned from FY 2026-27 to FY 2030-31. Central Financial Assistance of Rs 1 crore per MW is given after commissioning, plus up to Rs 50 lakh per project for feasibility studies. The National Institute of Solar Energy has estimated India's floating solar potential at about 102.18 GWp, while installed floating solar capacity is only about 700 MW.
Key facts
- Scheme
- Pradhan Mantri Surya Sarovar Yojana (PM-SSY)
- Ministry
- New and Renewable Energy
- Outlay
- Rs 5,070 crore
- Target
- 5,000 MW floating solar + 10,000 MWh storage (min. 2 hours)
- Sanction period
- FY 2026-27 to FY 2030-31 (disbursement till FY 2032-33)
- CFA
- Rs 1 crore per MW after commissioning; up to Rs 50 lakh per project for feasibility studies
- Potential (NISE)
- About 102.18 GWp
- Present floating solar capacity
- About 700 MW
- CO2 cut
- About 10 million tonnes a year
Practice MCQs 4 questions
The 'Pradhan Mantri Surya Sarovar Yojana' approved by the Cabinet in July 2026 is meant for which type of projects?
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Correct answer: D — Floating solar PV projects with energy storage
PM-SSY is a scheme for Floating Solar Photovoltaic projects with Energy Storage Systems.
How much floating solar capacity does PM Surya Sarovar Yojana (July 2026) aim to develop?
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Correct answer: C — 5,000 MW
The scheme envisages 5,000 MW of floating solar PV with co-located storage of 10,000 MWh.
Under PM Surya Sarovar Yojana, what Central Financial Assistance is given for eligible floating solar projects after commissioning?
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Correct answer: A — Rs 1 crore per MW
CFA of Rs 1 crore per MW is provided after successful commissioning; up to Rs 50 lakh per project is separately available for feasibility studies.
Which institution estimated India's floating solar potential at about 102.18 GWp, cited in the PM-SSY Cabinet approval of July 2026?
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Correct answer: D — National Institute of Solar Energy
The approval followed an assessment by the National Institute of Solar Energy (NISE), which estimated floating solar potential of about 102.18 GWp.