The state of Madhya Pradesh is planning a 1 GW floating photovoltaic power plant that would be the largest in the world, according to reports from India.
The floating photovoltaic plant is scheduled to be located in India’s largest reservoir at Indira Sagar Dam in Madhya Pradesh in central India, the Times of India said, citing the state’s minister of renewable energy. “We have conducted preliminary studies and now the World Bank is preparing the feasibility report,” Manu Shrivastava told the newspaper.
A 1 GW plant would eclipse the world’s largest floating photovoltaic plant, a 150 MW project in Anhui, China.
The development would cost about 50 billion rupees ($700 million), according to Shrivastava, who hopes work on the project can begin in about eight months. Madhya Pradesh would act as purchaser of 200MW of the plant, according to the report.
Floating photovoltaic panels are an increasingly attractive option for large-scale photovoltaic deployment in reservoirs and alongside hydroelectric facilities, especially where land use is restricted elsewhere, according to a World Bank report on the sector published last year.
At a cost of $0.83/Wp, India was singled out by the World Bank last year as the cheapest floating photovoltaic market in the world, while Japan was the most expensive with $3.12/Wp.
About 1.1 GW of floating solar power was in operation worldwide by mid-2018, according to the World Bank, but is expected to close this year with an installed capacity of 2.4 GW, according to Wood Mackenzie’s forecasts.