India's state-owned hydropower utility SJVN will finance and develop a pilot membrane based floating solar power project in India, in partnership with Norway's Ocean Sun.
The 2 companies signed a memorandum of understanding (MoU) to collaborate in the field of technologies in green and clean energy sector. SJVN's wholly-owned subsidiary SJVN Green Energy Limited (SGEL) will lead the project.
Under the MoU, Ocean Sun will provide SJVN with its patented floating solar technology for the development of the plant with about 2 MW installed capacity. Based on the success of the project, the project partners plan to expand this technological cooperation on a large scale, along the vast coastline in the southern part of India.
Ocean Sun uses its patented membrane technology to float its customized solar panels, claiming it leads to overall lowest material usage of any floating PV system 'enabling the lowest overall LCOE.' Proven to withstand high wind, waves and strong currents, the Norwegian company says it leads to a significant reduction in material logistics costs.
In late-2022, China's SPIC commissioned the world's '1st' offshore floating solar PV and wind energy facility came online using Ocean Sun's technology (see SPIC & Ocean Sun's Offshore Wind+Solar Project Online).
SJVN said this MoU will strengthen its renewable energy footprint and help achieve its target of 12 GW by 2026 and 50 GW installed capacity by 2040.
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