“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.”