Nova Innovation and RSK establishes floating solar joint venture

Scottish tidal energy developer Nova Innovation and RSK have launched AuqaGen365, a joint venture (JV) set to design, build, and install floating solar power stations across the globe.

AquaGen365 is, as the company describes it, “building on the success” of Nova’s first floating solar project at the Port of Leith in Edinburgh, which provides clean, renewable energy to Forth Ports’ headquarters.

According to Nova Innovation, the floating solar demonstrator proved its resilience by generating electricity during Storm Babet in October 2023, enduring rain and 70 mp/h winds. It has since generated power through 11 additional winter storms, showcasing Nova’s design and technology’s ability to operate in tough conditions.

The Port of Leith project exemplifies the use of floating solar near the shore, which can also be installed in sheltered inland waters, reservoirs, and offshore locations alongside offshore wind, said Nova Innovation.

“Floating solar provides clean, predictable, low-cost energy, using reliable and bankable technology that offers an alternative solution to ground-mounted and rooftop solar. It makes a compelling argument for cost competitive and decarbonised energy generation where land use is not a viable option,” said Director of RSK, David Taylor.

“With the commitment made at COP28 to triple renewable energy capacity globally by 2030, floating solar is a low-cost, accessible solution that can have a real impact on reducing climate change. The complementary skills of RSK and Nova combine perfectly to help achieve these global targets,” said CEO of Nova Innovation, Simon Forrest.

In December 2023, Nova Innovation led a European project showing that the cost of tidal energy may be lowered by up to 40%. The project, which started in 2017, had the objective of lowering the cost of tidal energy.

In terms of other related news, the company secured EU funding in November 2023 for a 4 MW tidal energy farm. The project, dubbed Seastar, builds on the achievements of the Shetland Tidal Array which has been powering homes, businesses, and the Shetland grid since 2016.