MNRE collaborates with KfW for floating solar projects in Maharashtra and Kerala

Ministry of New and Renewable Energy (MNRE) in collaboration with Germany-based development bank KfW to set up two floating solar PV plants in the Maharashtra and Kerala. MNRE recently conducted a study to assess the potential of floating solar power in the country. Both the plants are estimated to cost around USD 46.15 million.

“The KfW-funded floating solar park would be a showcase project that would demonstrate the technical viability of large solar projects,” said an MNRE senior official to ET “To begin with, at least 40 MW of floating solar capacity would be set up.”

Larger capacity floating solar plants are expected to be built once technical viability of the floating solar technology is assessed from the initial two projects.

Kolkata-based Renewable Energy College in its preliminary study has revealed that the country has potential to generate 310 GW of solar power from floating solar power plants.

KfW will issue low-interest loans with a total volume of $1.1 billion within the partnership.