SJVN Partners with Ocean Sun, Norway for Cutting-Edge Floating Solar Project
2 min readShimla, October 27, 2023: SJVN, under the leadership of Sh. Nand Lal Sharma, Chairman & Managing Director, has entered into a Memorandum of Understanding (MoU) with Ocean Sun, a Norwegian company, to foster innovation in the realm of Green & Clean Energy.
According to Sh. Nand Lal Sharma, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, will spearhead the development and financing of a groundbreaking Pilot Membrane-based Floating Solar Project, boasting a capacity of approximately 2 MW. This pioneering endeavor is poised to be located at a suitable site within India, with the technical know-how coming from Ocean Sun, Norway, which holds patented technology in this domain.
The signing of this MoU is expected to usher in a knowledge transfer and collaborative relationship between the two nations, marking a significant stride in the field of cutting-edge renewable energy technologies. Upon the successful implementation of this pilot project, SJVN and Ocean Sun have the potential to explore large-scale deployment of this technology along India’s extensive southern coastline.
The MoU was inked in the presence of Ms. May-Elin Stener, Ambassador of Norway to India, Sh. Dinesh Dayanand Jagdale, Joint Secretary of the Ministry of New and Renewable Energy, Sh. Akhileshwar Singh, Director (Finance) at SJVN. The agreement was signed by Sh. Ajay Singh, CEO (SGEL), and the CEO of Ocean Sun, Norway.
This strategic collaboration not only enhances SJVN’s standing in the renewable energy sector but also aligns with the Government of India’s ambitious target of achieving 50 percent installed capacity from non-fossil fuel sources by 2030. It is a significant step toward SJVN’s new mission to reach 12,000 MW by 2026 and contribute to the shared vision of establishing a 50,000 MW installed capacity by 2040.