India, Aug. 1 -- The Government on Friday approved Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for development of floating solar photovoltaic projects with energy storage systems with a total outlay of Rs 5,070 crore, an official statement said.

The scheme envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems having a minimum storage capacity of two hours, i.e., 10,000 MWh, the statement said.

The projects will be sanctioned during FY 2026-27 to FY 2030-31, with disbursement of financial support continuing up to FY 2032-33.

"The Union Cabinet chaired by the Prime Minister Narendra Modi today approved the 'Pradhan Mantri Surya Sarovar Yojana (PM-SSY)', a Scheme for the deve...