New Delhi, Dec. 4 -- The Ministry of New and Renewable Energy (MNRE) is preparing to launch a new scheme for floating solar power projects equipped with battery storage systems. According to Santosh Kumar Sarangi, Secretary, Ministry of New and Renewable Energy, the ministry has approached the Finance Ministry seeking budget approval and viability gap funding (VGF) worth Rs 7,000-8,000 crore for the initiative.

Speaking at the India Edge Event organised by the Confederation of Indian Industry (CII) on Thursday, Sarangi said, "The MNRE is planning to come out with a new scheme for floating solar with battery storage. MNRE approached the Finance Ministry for budget and approval of VGF worth Rs 7-8 thousand crores. These floating solars wil...