SJVN Ltd Signs Pact with Ocean Sun For Solar Project in India

CIOTechOutlook Team | Saturday, 28 October 2023, 02:16 IST

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SJVN Ltd, a state-owned company, announced that its green energy arm has signed an initial agreement with Norwegian business Ocean Sun for a membrane-based floating solar trial project in India. "Under the aegis of India-Norway Task Force for Energy, SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN Limited inked an MoU with Ocean Sun, Norway for collaboration in the field of new technologies in green and clean energy sector," a BSE filing said.
 
As per the MoU, SGEL shall develop and finance a pilot membrane-based floating solar project (about 2 MW) at a suitable location in India. For this project, patented technological support shall be provided by Ocean Sun. This MoU shall pave way for technology transfer and cooperation amongst the two countries, it added, as per economic times.
 
If this pilot project is successful, the two companies would be able to scale up this technology along India's huge coastline in the south.
 
SJVN has matched its shared goal with the Indian government's target of achieving 50% non-fossil fuel energy by 2030.
 
Ocean Sun was created in 2016, and the company will be listed on Euronext Growth Oslo with the ticker OSUN in October 2020. Ocean Sun, which has headquarters in Oslo, Singapore, and Shanghai, is striving to provide a radical solution for our worldwide energy demands. It has an intellectual property portfolio that includes patents and patent applications in all key markets. We are a technology company that provides license agreements to developers and independent power producers all around the world.  
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