India's Union Cabinet has approved a programme supporting the development of 5 GW of floating solar photovoltaic (FSPV) capacity with co-located ESS with a minimum capacity of two hours totalling at least 10 GWh (Government of India press release, 31/07/2026).
The Pradhan Mantri Surya Sarovar Yojana (PM-SSY) programme is planned to support projects sanctioned between FY2026-27 and FY2030-31, with financial assistance continuing until FY2032-33. Under the INR50.7bn (USD530m) scheme, the government plans to provide central financial assistance of INR10m (USD105k)/MW for eligible floating solar projects as well as extra financing for feasibility studies.
The government said the programme is anticipated to help utilise existing reservoirs and industrial ponds, reduce pressure on land resources and strengthen grid reliability through the integration of ESS. The scheme is also expected to reduce carbon dioxide emissions by around 10 MtCO2/year.
According to the government, the scheme is expected to increase the country's floating solar capacity from around 700 MW currently to 5.7 GW once fully implemented. The approval follows an assessment by the National Institute of Solar Energy, which estimated India's floating solar potential at around 102 GW across reservoirs and other inland water bodies.
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