NHPC Forms Joint Venture with Ocean Sun to Develop Floating Solar Technology in India

NHPC Limited, the largest organization for hydropower development in India, has signed a Memorandum of Understanding with Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry. As per the MoU, NHPC and Ocean Sun will explore key areas of cooperation for demonstration of Ocean Sun’s floating solar energy technology based on photovoltaic panels.

The panels would be mounted on hydro-elastic membranes at relevant sites to be identified by NHPC. The agreement is in continuation of efforts towards sustainable development and addition of renewable energy capacity by NHPC, which is engaged not only in hydro power development but also in various renewable energy projects in India.

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The MoU was signed on April 29 in a hybrid ceremony by NHPC's Executive Director (Renewable Energy and Green Hydrogen) V.R. Shrivastava and Ocean Sun's CEO Kristian Tørvold. 

This partnership between NHPC and Ocean Sun is a significant milestone in the renewable energy sector. It not only showcases the potential of floating solar technology but also highlights the growing cooperation between India and Norway in the renewable energy domain.

Ocean Sun's innovative floating solar technology, based on photovoltaic panels mounted on hydro-elastic membranes, offers a unique solution for harnessing solar energy in water bodies. This technology is particularly relevant for a country like India, which has numerous water bodies that can be utilized for this purpose. The collaboration between NHPC and Ocean Sun is expected to contribute significantly to India's solar market. 

About Ocean Sun

Ocean Sun is a Norway-based company that specializes in renewable energy, particularly in the solar power sector. Ocean Sun has developed a patented solution for a floating power system with solar panels mounted on a thin hydroelastic membrane. 

This innovative technology offers renewable energy at world-beating cost levels, thanks to the cooling effect from the water, which increases the power output from the solar modules. The company's technology can cope with most sea states, from offshore locations to reservoirs and lakes. It has installed systems worldwide, from the rough coastal waters of Norway to Albania, the Philippines, Singapore, and China.

Ocean Sun operates as a technology provider, offering license agreements to developers and independent power producers around the world. The company owns an IPR portfolio, including patents and patent applications in all major floating solar markets.

Read: RWE Starts Construction of its First Solar Power Plant in Italy

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