MNRE ropes in Germany-based KfW Development Bank to fund two floating solar projects

KOLKATA: After solar parks developed over vast tracts of land, the next big thing in renewable energy could be solar parks floating on water bodies.

The Ministry of New and Renewable Energy (MNRE) has initiated a study to assess the potential of floating solar parks in India. It has roped in Germany-based KfW Development Bank to build two large floating solar projects in Maharashtra and Kerala at an initial investment of about Rs 300 crore.

“The KfW-funded floating solar park would be a showcase project that would demonstrate the technical viability of large solar projects. To begin with, at least 40 MW of floating solar capacity would be set up,” said a senior MNRE official. “Initial estimates suggest that the country could generate at least 310 gigawatts of green power from such floating solar parks,” said SP Gon Chaudhuri, chairman of the Kolkata-based Renewable Energy College.

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