5. Environmental Gains
Floating solar farms have a lower
carbon footprint during construc-
tion and operation. Since they don’t
require extensive land clearing or
grading, they help preserve natural
habitats.
India’s Floating Solar Journey:
Key Projects & Milestones
India's foray into floating solar
began modestly but has picked up
considerable momentum. Here are
some landmark projects shaping the
sector:
1. NTPC Ramagundam (Telanga-
na) – 100 MW
India’s largest operational floating
solar project, it sprawls across the
reservoir of the NTPC thermal
power plant. Commissioned in
2022, it showcases the synergy
between fossil fuel legacy infra-
structure and clean energy.
2. Kayamkulam (Kerala) – 92
MW
Set against the picturesque Kerala
backwaters, this project is unique
for its scale and the complexity of
building on brackish waters. It is
also one of India’s first merchant
floating solar projects selling power
directly on the exchange.
3. Omkareshwar Reservoir (Mad-
hya Pradesh) – 600 MW (Planned)
This mega-project, developed by
Rewa Ultra Mega Solar Ltd., is set
to become one of the world’s largest
floating solar farms once complet-
ed. It demonstrates India's serious
commitment to scaling this technol-
ogy.
4. Farakka (West Bengal) – 5 MW
Built on the Farakka Barrage, this
project highlights the strategic use
of river-based infrastructure for
renewable energy.
5. Sagardighi (West Bengal) and
Hirakud (Odisha)
Several states are experimenting
with smaller pilot projects, which
are expected to scale rapidly as
floating solar proves its viability.
The Economics: Is Floating Solar
Cost-Effective?
Floating solar was once considered
more expensive due to the added
cost of floaters, anchoring, and
specialized engineering. But recent
trends are closing the gap.
• Cost parity: The cost of floating
solar has dropped significantly,
from over ₹7/kWh a decade ago to
₹3.5–4.5/kWh today, depending on
project size and location.
• Lower O&M Costs: Less dust
accumulation
on
panels
means
reduced cleaning needs, especially
compared to arid regions where
water for cleaning is scarce.
• Improved efficiency: The higher
energy yield compensates for slight-
ly higher capital costs, improving
overall economics.
In short, floating solar is increasing-
ly competitive, especially where
land costs are high or unavailable.
Challenges on the Horizon
Despite its many benefits, floating
solar is not without hurdles.
1. Technical Complexity
Designing, installing, and maintain-
ing systems that float on water is far
more challenging than on land.
Engineers
must
consider
wave
action, water level fluctuations,
corrosion, and anchoring.
2. Environmental Sensitivity
Covering water bodies may impact
aquatic life, oxygen levels, and
biodiversity.
Projects
must
be
preceded by thorough Environmen-
tal Impact Assessments (EIAs).
3. Regulatory Hurdles
Water bodies are often governed by
multiple
jurisdictions
irrigation
departments, fisheries, municipali-
ties which can complicate approv-
als.
4. Financing and Insurance
Banks are still warming up to the
technology. Developers often strug-
gle with higher insurance premiums
and lack of standardized risk assess-
ment tools.
5. Supply Chain Bottlenecks
Most floating platforms and anchor-
ing systems are imported. Develop-
ing a local ecosystem for compo-
nents will be crucial for long-term
scalability.
Innovations and the Road Ahead
India is now witnessing an ecosys-
tem of startups, engineering firms,
and research institutions innovating
in this space:
• Modular Floating Platforms:
Companies are developing modular
designs that can be easily deployed
on varied water bodies.
• AI
and
IoT
Monitoring:
Real-time performance monitoring
using AI and sensors is improving
operations and predictive mainte-
nance.
COVER STORY
46 | June 2025 | www.industrialoutlook.in