India looks into new scheme to fuel floating solar and agri photo-voltaic development

The country intends to focus on these solar technologies that do not require large land.

India’s renewable energy and finance ministries are holding discussions to develop a new scheme that will support the development of solar energy projects in the country.

According to Santosh Kumar Sarangi, Secretary, Ministry of New and Renewable Energy, Government of India, their discussions with ith the Ministry of Finance focus on floating solar and agrivoltaic solutions that can be deployed without requiring large land parcels.

The official noted that India’s energy demand will increase exponentially, necessitating a proper energy mix that includes renewable energy, nuclear, and coal power to ensure baseload management and capacity addition.

India aims for 500 gigawatts (GW) of renewable energy capacity by 2030 and a projected 1,800 GW by 2047, with solar accounting for the majority.

Sarangi acknowledged that transmission remains a challenge due to the long gestation period of high-voltage lines (4 to 5.5 years) compared to RE projects (1 to 2 years).

To address the grid lag, the official highlighted initiatives such as CERC regulations, splitting NIA, and encouraging distributed renewable energy to reduce land-related issues. He noted that the Green Energy Corridor scheme is adding circuit kilometres to upgrade state evacuation infrastructure.

Sarangi expressed confidence in technological breakthroughs like perovskite solar cells, which have the potential to reduce electricity costs to INR 1.00 per unit if stability for 25 years can be established.

On the role of states, Sarangi stressed their key function in allocating land, facilitating evacuation, and accepting power purchase agreements, citing the catalytic impact of schemes like PM-KUSUM in helping states reduce discom losses from agricultural feeders and rural households.