MNRE, Finance Ministry in Talks for New Floating Solar and Agri-PV Scheme: Sarangi
The Ministry of New and Renewable Energy is engaging with the Finance Ministry on new schemes for floating solar and agrivoltaics to drive land-efficient renewable energy expansion, MNRE Secretary Santosh Kumar Sarangi said.
December 01, 2025. By Mrinmoy Dey
He asserted that India’s energy demand will increase exponentially, necessitating a proper energy mix that includes RE, nuclear, and coal power to ensure baseload management and capacity addition. He cited the target of 500 GW of RE capacity by 2030 and a projected 1,800 GW by 2047, with solar accounting for the majority, underscoring the vital role of RE.
Sarangi acknowledged that transmission remains a challenge due to the long gestation period of high-voltage lines (4 to 5.5 years) compared to RE projects (1 to 2 years). To address grid lag, he highlighted initiatives such as CERC regulations, splitting NIA, and encouraging distributed RE (e.g., agri-photovoltaics in agriculturally rich states and floating solar in the NER) to reduce land-related issues. He noted that the Green Energy Corridor scheme is adding circuit kilometres to upgrade state evacuation infrastructure.
Addressing tariff sustainability, he explained that the slightly higher rates (around INR 2.50) are a conscious policy decision to encourage domestic manufacturing (DCR requirement) and achieve self-reliance (Atmanirbhar) in line with the target of 1,800 GW.
Sarangi expressed confidence in technological breakthroughs like perovskite solar cells, which have the potential to reduce electricity costs to INR 1.00 per unit if stability for 25 years can be established.
On the role of states, Sarangi stressed their key function in allocating land, facilitating evacuation, and accepting Power Purchase Agreements (PPAs), citing the catalytic impact of schemes like PM-KUSUM in helping states reduce discom losses from agricultural feeders and rural households.
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