Whalesbook
India is set to boost its renewable energy capacity with a new ₹5,500 crore ($660 million) scheme approved for floating solar projects that include battery energy storage systems (BESS). This move is crucial for saving land, as solar and wind energy expansions are expected to need about 700,000 acres by 2030, potentially creating a significant market for land acquisition.
Advantages of Floating Solar
Floating solar panels are installed on water bodies, which saves valuable land and can increase efficiency because water cools the panels. Despite these advantages, India has only deployed around 700 MW of floating solar capacity so far. This slow adoption is mainly due to a lack of detailed site information and unclear operational rules.
Policy Support and Future Potential
Experts see floating solar as a practical solution for states with ample water but less land for solar development, such as Odisha, Kerala, Tamil Nadu, and Karnataka. India's potential for floating solar is estimated to be over 200 GW. The Ministry of New and Renewable Energy (MNRE) is working with industry partners to create a specific policy for floating solar and explore easier methods for using water bodies.
Major Projects and Industry Outlook
India has some of the world's largest floating solar farms. Notable projects include Tata Power's 126 MW plant in Madhya Pradesh and its 101.6 MW project in Kerala. The Ramagundam FPV project in Telangana, with 100 MW, is currently India's largest operational floating solar installation. Companies believe these integrated projects will create new energy opportunities, boost domestic manufacturing, enhance energy security, and reduce reliance on imported fossil fuels. The initiative could also benefit companies in grid storage and mini-grid solutions, though floating solar installations are currently more expensive than ground-mounted ones.