Cabinet approves scheme to promote ‘floating’ solar plants, Pg10

Key Highlights:

• The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana, a ₹5,070-crore scheme to promote floating solar power.
• The scheme aims to achieve 5,000 MW of floating solar capacity by 2030-31.
• It provides central financial assistance of up to ₹1 crore per MW for projects on reservoirs and water bodies.
• Projects supported under the scheme must include battery energy storage equivalent to at least two hours.
• The Solar Energy Corporation of India will be the implementing agency for the program.

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Detailed Insights:

• The initiative seeks to diversify solar installations, particularly in states with abundant water bodies but limited land availability.
• It addresses key constraints of ground-mounted solar projects, such as large land acquisition and associated rehabilitation costs.
• India currently possesses approximately 0.7 GW of installed floating solar capacity, despite an estimated potential of 102 GW.
• The mandatory inclusion of battery storage aims to help states manage peak demand and minimize the curtailment of renewable power.
• India's largest floating solar project, the Omkareshwar floating solar park in Madhya Pradesh, has a capacity of 278 MW.

Key Concepts Involved:

• Floating Solar: Photovoltaic panels mounted on platforms that float on water bodies like reservoirs or lakes.
• Battery Energy Storage System (BESS): Technology used to store electrical energy for later release, improving grid stability and reliability.
• Curtailment: The reduction of electricity output from a power plant, often due to grid congestion or excess generation from renewables.
• Solar Energy Corporation of India (SECI): A Public Sector Undertaking under the Ministry of New and Renewable Energy responsible for promoting solar energy.