Analysis on floating solar

1. Global Scenario – Floating Solar Market
• Global floating solar panels market is
projected to register significant growth
over the near-to-long term
• The market, estimated at 1.6 GW in 2021
is projected to reach 4.8 GW by 2026,
registering a compounded annual
growth rate (CAGR) of 33.7% over the
analysis period
• Asia-Pacific represents the largest
regional market for Floating Solar Panels,
accounting for an estimated 62.2% share
of the global total in 2020. The market,
estimated at 771.6 MW in 2021, is
projected to reach 2.7 Thousand MW by
2026.
• China is the leading international market
followed by Japan and South Korea. After
years of small-scale installations, large
MW-scale projects are getting developed
now.
China is home to the world’s largest FSPV plant of 150 MW capacity installed at Huainan, south Anhui
province.
Source: TERI FSPV report 2020

2. Indian Scenario – Evolution of Floating Solar Market
2015
•10 KW in Arka Renewable Energy College, Kolkata – part of research activity sponsored by MNRE
2016
•NTPC installed country’s largest 100 kW plant on a reservoir of its combined cycle power plant situated in
Kerala’s Kayamkulam District
•10 kW FSPV plant was commissioned at Dhanas Lake in Chandigarh
•Later in December month, KSEB (Kerala State Electricity Board) started its operation of 500 kW plant at
Banasura Sagar reservoir in Wayanad District replacing NTPC’s 100 kW as a largest FSPV based plant.
•The 500 KW plant was was able to bring some confidence to FSPV promoters by successfully surviving the
flood ravage in the Kerala state in 2018
2018
•In 2018, Greater Visakhapatnam Smart City Corporation had commissioned the largest FSPV based plant of 2
MW capacity at Vishakhapatnam, AP. With this the total installed capacity of FSPV reached 2.7 MW
2021
• NTPC commissioned 42.5 MW at Ramagundam in two phases – Phase -1 (17.5 MW) & Phase –II (20 MW)
• BHEL has successfully commissioned FSPV plant of 25 MW capacity. It is located at NTPC Simahadri in Andhra
Pradesh covers an area of 100 acres.
2022
•Upon successful commissioning of third part capacity of 42.5 MW of 100 MW Ramagundam Floating Solar
PV Project at Ramagundam, Telangana, Ramagundam FSPV project has reached 80 MW – India’s largest
Floating Solar Plant
•With this installation, India’s total floating solar PV capacity reached 110 MW