In view of
the Union Cabinet's approval of the Pradhan Mantri Surya Sarovar Yojana
(PM-SSY), a ₹5,070 crore scheme aimed at developing 5 GW of floating solar
photovoltaic projects integrated with Battery Energy Storage Systems (BESS),
please find below a statement from Mr. Prashant Mathur, CEO, Saatvik Green
Energy, sharing his perspective on this significant policy initiative and
its potential to accelerate India's clean energy transition:
"India
has just opened up a market nearly seven times its current size. Floating solar
stands at barely 700 MW today, against a resource potential that NISE pegs at
over 102 GWp and the Pradhan Mantri Surya Sarovar Yojana is the policy
intervention that finally puts that potential to work. With 5,000 MW of new
capacity mandated alongside compulsory storage integration, this scheme is not
incremental, it is structural.
This is a
space where Saatvik has earned its position. We have supplied modules across number
of floating solar projects in India and have since built out our capability as
an integrated clean energy solutions company, including the establishment of a
dedicated energy storage subsidiary. The scheme's architecture, with Central
Financial Assistance of ₹1 crore per MW materially de-risking project
economics, is designed precisely to reward manufacturers who can bring modules,
EPC execution, and storage capability to a single project. That is where we are
positioned.
We expect
this policy to translate into real bidding momentum across the sector. For
Saatvik, floating solar and storage is not a new direction, it is an extension
of a roadmap we have already committed to, and we see the PM Surya Sarovar
Yojana as a meaningful and well-timed growth driver for the business.”