Government of India has launched the Jawaharlal Nehru National Solar Mission (National Solar Mission) on 11th January, 2010 with a target of 20 GW by 2022 which was later increased to 100 GW in 2015 Union budget of India.

Solar installed capacity increased by 500% in the last 5 years – a commendable achievement. This puts India well on track to 2022 target.

To continue this current rate of solar installations, government is putting focus on all available technologies.

Given scarcity of land parcels in many areas of the country, the newest technology of floating solar is being seriously considered. Unlike land-based solar plants, floating solar power plants are installed on water reservoirs like dams, lakes or rivers which really solves the problem of occupying land. The solar panels will be mounted on floating platforms that are anchored tightly so that they do not get damaged even under the worse weather conditions. 

There is a huge opportunity in India in the floating solar space due to

• Directed government focus
  • 10,000 MW of floating solar projects –> to be bid out in the next 3 years on BOT basis by Solar Energy Corporation of India
  • Assured take-off through long-term PPAs for floating solar projects along with capital expenditure subsidies

• Underutilized water bodies
  • 5,000+ dams with reservoirs over 13,000 sq km, 101 national waterways and several natural lakes
  • Lagoon areas of Lakshadweep & Andaman islands à untapped opportunity for marine floating solar plants

• Nascent Competition
  • Only 3-4 floating solar projects in India (less than 1 MW of cumulative installed capacity)
  • Research agencies / colleges offering technology –> no established players in the floating solar market

India’s largest installation of floating solar was recently commissioned in Kerala. The details of the project are as follows.

• 500 kW | Banasura Sagar reservoir in Wayanad, Kerala
  • INR 9.25 cr (1.5-year development cycle)
  • Expected 7.5 lakh units annually
    • 6000 sq m | 18 floating platforms (ferrocement floaters)
    • 1,938 solar panels each rated at 260 watts
  • Awarded by Kerala State Electricity Board Ltd (KSEBL) – to a consortia of
    • Adtech Systems Ltd, a Thiruvananthapuram based company
    • Hyderabad based Radiant Solar Pvt Ltd
    • Floatels India Pvt Ltd
    • Regen Power Pty Ltd, an Australian renewable energy company

A slew of opportunities are opening up in different states with ~20 MW of floating solar within 6 months of execution cycle.