The Pradhan Mantri Surya Sarovar Yojana (PM-SSY) is a national renewable energy Central Sector Scheme approved by the Union Cabinet on July 31, 2026, with a total outlay of ₹5,070 crore. The scheme was created to address land acquisition bottlenecks for solar projects and to utilize the vast floating solar potential, which the National Institute of Solar Energy (NISE) estimated at 102.18 GWp across inland water bodies.
The scheme is designed to promote Floating Solar Photovoltaic (FSPV) Projects integrated with Energy Storage Systems (ESS), with the Ministry of New and Renewable Energy (MNRE) as the nodal ministry. Its mechanism targets the development of 5,000 MW of FSPV capacity between FY 2026–27 and FY 2030–31, increasing India's current floating solar capacity from approximately 700 MW to 5,700 MW. A key provision mandates the co-location of 10,000 MWh of ESS with a minimum two-hour storage duration to ensure grid stability. Financial support includes Central Financial Assistance (CFA) of ₹1 crore per MW upon successful commissioning, and up to ₹50 lakh per project for feasibility studies to de-risk development.
The PM-SSY connects directly to India's national climate goals, including the target of achieving 500 GW non-fossil fuel capacity by 2030, and supports the Aatmanirbhar Bharat initiative by boosting indigenous manufacturing. By utilizing reservoirs and industrial ponds, it eliminates competition for scarce land resources and is expected to reduce approximately 10 million tonnes of CO₂ emissions annually. As a newly approved scheme, its focus is on rapid expansion, replacing the need for land-intensive ground-mounted solar projects.