A joint venture between the Steel Authority of India (SAIL) and NTPC, NTPC-SAIL Power Company (NSPCL), has commissioned a 15 MW floating solar project at the Maroda-1 reservoir of the Bhilai Steel Plant in Chhattisgarh.

Spread over 80 acres, the floating project was built at a cost of ₹1.11 billion (~$12.5 million).

The work for the floating solar power project was awarded to engineering, procurement, and construction (EPC) contractor Madhav Infra Projects (MIPL) in May last year.

The tender for the project was floated in January 2024.

MIPL was also responsible for the power evacuation system, a three-year operation and maintenance period post-commissioning, and an annual maintenance contract for critical equipment.

The project is expected to generate 34.25 million units of clean electricity annually.

Chitta Ranjan Mohapatra, Interim Director at SAIL-BSP, announced plans to set up another floating solar project at the Maroda-2 reservoir.

In May 2024, NTPC and SAIL signed the power purchase agreement for the project.

In May this year, NTPC Renewable Energy invited bids for the EPC package for a 56 MW floating solar project with a 60 MW/240 MWh battery energy storage system at NTPC North Karanpura in Chatra, Jharkhand.

In an interview on the sidelines of the Mercom India Renewables Summit 2025, held in New Delhi on July 24 and 25, 2025, Deepak Ushadevi, MD and CEO at Ciel et Terre Solar, stated that floating solar is poised to become a major driver of India’s renewable energy growth. He added that it is not just a niche segment offering key advantages over ground-mount systems, such as no land acquisition issues, faster scalability, and higher generation.

According to data from the Central Electricity Authority, the Ministry of New and Renewable Energy, and Mercom’s India Solar Project Tracker, solar power accounted for 24% of the total installed power capacity and 49.7% of the total installed renewable capacity as of June 2025.