Ocean Sun

Regulatory Filings • Mar 24, 2022

Ocean Sun and Sunseap to construct milestone near shore floating solar system in Singapore Strait

Ocean Sun and Sunseap to construct milestone near shore floating solar system in Singapore Strait

Ocean Sun and Sunseap have signed an agreement for a 1.2 MWp floating PV project to be deployed near an island to the south of Singapore. The project is a full-scale demonstrator comprising of two Ocean Sun systems that will pave the way for utility scale developments in Singapore and Southeast Asia. The system will be the largest floating solar system in the Singapore Strait and construction is scheduled during Q3’22.

“This project is another significant milestone for Sunseap as we continue to explore alternative methods to deploy solar PV systems in land scarce Singapore. Floating PV systems have the potential to generate more solar energy compared to traditional rooftop and ground-mounted solar PV systems.” – Says Frank Phuan, Business CEO and Co-Founder of Sunseap Group. He adds: “Ocean Sun’s innovative floating PV system is highly efficient, robust and can be easily installed, and we look forward to collaborating on other projects in future.”

“High cost of land makes floating solar a very attractive solution for Singapore to increase renewable energy production. We are therefore very pleased for the opportunity to further demonstrate our technology’s advantages in the region and to strengthen our relationship with one of the most ambitious renewable energy developers in Singapore and Southeast Asia.” – Says Børge Bjørneklett, CEO and founder of Ocean Sun.

About Sunseap:

Sunseap Group is a solar energy system developer, owner, and operator in Singapore, with a pipeline of close to 10 GWac of solar energy projects across Asia. Its solar energy systems can be found on more than 3,000 buildings in Singapore, including public housing estates, as well as commercial and industrial buildings.

Sunseap also operates in various territories across the Asia Pacific, including Vietnam, Cambodia, China, Taiwan, Japan, Thailand and Malaysia. Sunseap is part of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and one of the world's largest renewable energy producers.

About Ocean Sun:

By combining the Norwegian maritime expertise and knowledge within photovoltaics, Ocean Sun has developed an innovation that offers a bold solution to our global energy needs. The patented technology is based on solar modules mounted on hydro-elastic membranes and offers cost and performance benefits not seen in any other floating PV system today. With offices in Oslo, Singapore and Shanghai, Ocean Sun’s vision is to become the world's leading technology provider of floating solar.

For further details, please contact:

Børge Bjørneklett, CEO of Ocean Sun, +47 90195778