The swift advancement of green energy technologies is crucial for combatingglobal climate change and ensuring energy security. Floating SolarPhotovoltaic (FSPV) or Floatovoltaics, is an innovative approach thatintegrates technology with underutilized water bodies to generate greenenergy. Floating Solar Photovoltaic systems are emerging as a groundbreakingsolution to address India’s dual challenge of expanding renewable energy capacity and efficiently utilizing limited land resources in a densely populated country.

This thesis examines the viability of implementing a 125 MW FSPV projectat Idukki Reservoir, Kerala, India by thoroughly assessing the project'stechnical, economic, environmental, and social aspects. By utilizing bothsimulation software and actual data, the study analyses energy generationcapabilities, system efficiency, financial indicators, and environmental effects,including reduced emissions and decreased water evaporation. The financialevaluation, conducted over a 25-year period, revealed a Levelized Cost ofElectricity (LCoE) of INR 3.07/kWh, Net Present Value (NPV) of INR 59.64million, Project IRR (Internal Rate of Return) of 9.79%, and Equity IRR of10.26%, with a payback period of 10 years. Moreover, the FSPV system isestimated to avoid approximately 3.98 million tons of CO₂ emissions over itslifetime. Additionally, it is projected to reduce evaporation by around 18.68million liters of water annually, emphasizing its dual benefit of clean energygeneration and water conservation. Sensitivity analysis further demonstratedthe project’s resilience under varying financing scenarios, including changesin debt-equity ratios and loan repayment frequencies. Furthermore, theresearch emphasizes possible socio-economic advantages, such as jobgeneration and enhanced energy access. The policy analysis underscores theneed for modernization in Kerala’s solar energy policies to foster furtherdevelopment of floating solar technologies. The analysis reveals that theIdukki Reservoir, given its favourable climatic conditions, represents anexcellent location for floating solar energy project. It concludes that, ifeffectively managed, the Idukki FSPV project could serve as a model forfloating solar deployment in India, contributing to India’s RE goals