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Ocean Sun AS ( (DE:OW7) ) has shared an announcement.
Ocean Sun has completed its first commercial near-shore, megawatt-scale floating solar project at the Soneva Secret resort in the Maldives, installing a 2 MWp floating solar plant coupled with a 3 MWh battery system that allows the resort to cover up to 90% of its energy needs from renewables, replacing diesel generators and cutting fuel use by up to 1 million liters and more than 2,000 tons of CO₂ emissions annually. Developed in partnership with Singapore-based Canopy Power, which acted as integrator, and Huawei, which supplied battery and power electronics technology, the project validates Ocean Sun’s patented membrane-based floating PV as a scalable, economically attractive solution for island markets, reinforcing the company’s positioning in the emerging segment of island and remote-community power systems and opening a sizable replication opportunity across resort islands in the Maldives and other diesel-dependent island regions worldwide.
More about Ocean Sun AS
Ocean Sun AS is a Norwegian-based technology company specializing in floating solar photovoltaic solutions, using patented solar modules mounted on hydro-elastic membranes to deliver cost and performance advantages over conventional floating PV systems. Drawing on Norwegian maritime expertise and PV know-how, the company targets global markets where water-based solar installations can support energy transition, with offices in Oslo, Singapore and Shanghai and a focus on islands, coastal regions and other locations with limited land or grid infrastructure.
Average Trading Volume: 57,590
Current Market Cap: NOK81.84M
See more data about OW7 stock on TipRanks’ Stock Analysis page.