Renewable energy giant, NHPC Limited, has signed a Memorandum of Understanding (MoU) with Ocean Sun, a Norwegian company, to explore the potential of floating solar energy technology in India, a PIB press release stated.

As per the agreement, the technology developers will work together to demonstrate Ocean Sun’s floating solar energy technology based on photovoltaic panels mounted on hydro-elastic membranes.

The solar panels will be installed at relevant sites in India that will be identified by NHPC. The deal is in line with NHPC’s mission of promoting sustainable development and addition of renewable energy capacity.

The company is also engaged in other renewable energy projects such as solar, wind, and green hydrogen.

V R Shrivastava, Executive Director (Renewable Energy and Green Hydrogen), NHPC, said: “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 such as solar, wind and green hydrogen projects.”

Kristian Tørvold, CEO, Ocean Sun, said,“We are pleased to have signed an agreement with NHPC that will help us drive the growth of the floating solar energy market in India. The technology has the potential to offer a clean and sustainable solution for remote and disadvantaged communities in particular.”