The Centre on Friday approved a Rs 5,070 crore scheme to accelerate the development of floating solar photovoltaic (FSPV) projects, aiming to raise the country’s installed floating solar capacity from around 700 MW to 5,000 MW.
The scheme will support floating solar projects integrated with energy storage systems offering a minimum of two hours of storage. By installing solar panels on existing water reservoirs, the initiative seeks to expand renewable energy generation while reducing pressure on scarce land resources.
According to the National Institute of Solar Energy, Maharashtra has the highest floating solar potential at 16.3 GW, followed by Madhya Pradesh with 14.9 GW and Karnataka with 13.7 GW.
