Norway based floating solar technology company Ocean Sun is expanding its presence in the European markets of Greece and Cyprus through a collaboration with MP Quantum Group, a family owned business in Greece.
Under the agreement signed, MP Quantum Group will develop utility scale floating solar projects—both on inland reservoirs and for ocean applications—in target countries using Ocean Sun's proprietary technology.
Currently, MP is actively working on securing permits for large projects, but for an initial pilot project the permits are expected to come in within 2021.
"Floating solar is an excellent fit for the energy markets in Greece and Cyprus, with good irradiation, water resources and a commitment from authorities to push for the renewable energy transition," said Chairman of MP Quantum Group, Yiannis Alafouzos. The MP group that also owns SKAI Media Group and newspaper Kathimerini, aims to become a 'major player' in the shift towards green electricity.
For the partners Greece as a location for floating solar PV technology works due to the presence of 'long coast lines, islands and inland water reservoirs'. At the same time, Greece aims to have 35% renewable energy accounting for its total electricity mix by 2030 under the country's National Energy and Climate Plan (NECP), and referring to the country's solar industry association HELAPCO's estimates, MP said this should amount to 400 MW to 500 MW of PV expected to be installed annually until 2030 (see Greece To Chase 35% RES Share By 2030). Greece's NECP target is 7.66 GW from solar; at the end of 2020, the country had 3.35 GW installed, according to SolarPower Europe's EU Market Outlook For Solar Power 2020-2024.
In January 2021, Terna Energy sought producer certificates from Greek Regulatory Authority of Energy (RAE) for 3 floating solar power projects, with a combined capacity of 265 MW on artificial reservoirs (see 265 MW Floating PV Capacity Being Planned In Greece).
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