Union Cabinet Approves Pradhan Mantri Surya Sarovar Yojana

On 31st July 2026, the Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a Central Sector Scheme for the development of Floating Solar Photovoltaic (FSPV) Projects integrated with Energy Storage Systems (ESS), with a total outlay of ₹5,070 crore.

Key Points:

Aim: The scheme aims to develop 5,000 MW of floating solar capacity along with 10,000 MWh of co-located energy storage by FY 2030–31.
Project Scope: The scheme will develop 5,000 MW of floating solar capacity with 10,000 MWh of energy storage. Projects will be sanctioned from FY 2026–27 to FY 2030–31.
Financial Assistance: Eligible projects will receive ₹1 crore per MW after commissioning. Up to ₹50 lakh per project will also be provided for feasibility and environmental studies.
Expected Benefits: The scheme will increase India's floating solar capacity to 5,700 MW, reduce 10 million tonnes of CO₂ emissions annually, generate 16,000–17,000 jobs, and strengthen domestic manufacturing.
Significance: It will promote the use of reservoirs and inland water bodies for clean energy, improve grid reliability through storage, and support the Aatmanirbhar Bharat and Viksit Bharat initiatives.