Innovation Norway backs compatriot floating solar firm with funding

Norway-based floating solar company Ocean Sun has secured funding from state-owned Innovation Norway to advance key technology areas, including a freshwater collection system.

According to Ocean Sun, “this is a first” for floating solar technology, where the design integrates renewable energy generation with water collection.

“Island communities across the globe, from the Maldives to the Caribbean and Polynesia, face the same challenge: limited space for renewable energy infrastructure and scarce freshwater resources. Our solution offers a game-changing opportunity to tackle both issues simultaneously,” said Ocean Sun.

The 70-meter diameter circular floating solar unit, One Ocean Sun, is said to collect between 8,400 and 12,000 tons of fresh water annually while generating 1 to 1.5 GWh of clean electricity. 

The Norwegian company said that this dual capability could provide resources to communities while supporting a feasible and sustainable business model.

In April 2021, the company partnered with Marine Water Production (MWP) to use offshore floating solar technology for desalination, demonstrating its commitment to integrating solar power with freshwater solutions.

In terms of the most recent news coming from the Norway-based company, Ocean Sun earlier this month unveiled the addition of two new C-level executives to its leadership team.