Madhya Pradesh Plans Three New Floating Solar Projects Worth INR 7,500 Cr Investment

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Officials present in one of the sessions on the first day of ‘Invest Madhya Pradesh-Global Investors Summit’ that is being held in Indore, said that the development work on three floating solar power plants on water reservoirs in the state of Madhya Pradesh is about to commence. The investment into the three floating solar power projects will be INR 7,500 crore. No further information was shared by the officials about the floating solar projects.

New and Renewable Energy Minister of Madhya Pradesh, Hardeep Singh Dang, said that a floating solar power project is already being developed at Omkareshwar Dam in Khandwa district having a capacity of 600 MW. The minister apprised that more than 60,000 MW of solar power projects and nearly 5,000 MW of wind power projects are being implemented in Madhya Pradesh.

Dang stated, “There is a possibility of setting up 60,000-megawatt solar, 15,000-megawatt wind, and other renewable energy-based projects.”

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Sanjay Dubey, Principal Secretary, Energy and Renewable Energy Department, MP, who chaired the session, also said that 128 business houses offered proposals to invest in the RE sector of the state. Dang said that investors will not face any kind of problem if they set up their facilities in Madhya Pradesh.

Investors were mainly attracted to the 950 MW solar energy projects in Chhatarpur and 1400 MW solar projects in Morena. The Madhya Pradesh Government is also expecting a robust investment of Rs 90,000 crore in pumped-hydro projects. In a recent development, Hyderabad-based clean energy firm Greenko Group is set to invest Rs 10,000 crores in a Pumped Storage Project (PSP) too in Neemuch district of Madhya Pradesh.

The state wants to develop 20,000 MW of renewable projects by 2027. State Minister Hardeep Singh Dang held that Madhya Pradesh is mulling to contribute half of India’s 500 GW target in renewable energy, a target set by Prime Minister Narendra Modi.

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