Under the aegis of India-Norway Task Force for Energy, SJVN Green Energy
Limited, a wholly owned subsidiary of SJVN Limited (A CPSU under Ministry of
Power, Govt. of India) today inked an MoU with Ocean Sun AS, Norway for
collaboration in the field of new technologies in Green & Clean Energy Sector.
Under this MoU it has been agreed that SJVN Green Energy Limited shall develop &
finance a Pilot Membrane based Floating Solar Project (about 2 MW) at a suitable
location. For this project, technological support shall be provided by Ocean Sun
AS, Norway. This MoU shall pave way for technology transfer and cooperation
amongst the two Countries. Once this pilot project is on its success path, the
two companies M/s SGEL & Ocean Sun AS can look forward for expanding this
technology on large scale on lakes and along the vast coast line in the southern
part of India.
 
"The present MoU represents a milestone for Ocean Sun in our quest for providing
affordable renewable energy without scarifying valuable land. We are honoured by
the trust from SJVN Green Energy to pilot a new 2MW Ocean Sun floating power
plant in India. We also wish to thank the Innovation Norway Team in New Delhi
for invaluable support and for bringing the parties together"". Says Dr Børge
Bjørneklett, CEO of Ocean Sun.
 
"It has been a real pleasure working with Ocean Sun and SJVN developing a
platform for joint projects, and we congratulate the parties on this milestone.
This aligns well with Innovation Norway's strategy of bringing new green value
chains to the international markets, says Cristian Valdes Carter, Director India
at Innovation Norway.
 
"India is well suited for implementing and scaling of new green technologies and
Ocean Sun introduces a very relevant solution to the Indian market based on
efficiency, robustness and flexibility, says Carter."
 
 
About Ocean Sun: 
By combining Norwegian maritime expertise and knowledge within photovoltaics,
Ocean Sun has developed an innovation that offers a bold solution to our global
energy needs. The patented technology is based on solar modules mounted on
hydro-elastic membranes and offers cost and performance benefits not seen in any
other floating PV system today. With offices in Oslo, Singapore and Shanghai,
Ocean Sun aims to become the world's leading technology provider of floating
solar.


About SGEL:
SJVN Green Energy Limited (SGEL) is a wholly owned subsidiary of SJVN Limited, a
CPSU under Ministry of Power, Government of India. SGEL looks after the
renewable business of SJVN Limited.  SJVN Limited has a portfolio of about 58 GW
which are under various stages of operation and development. 

Under this portfolio, SGEL has bagged about 5 GW RE projects with firm PPAs for
25 years. Out of this 5 GW, 1.5 GW projects are under various stages of
construction and another 2 GW projects are likely to come under construction
shortly. SGEL aims to add additional 1 to 1.5 GW RE projects every year. We
endeavour to enter into new technologies in the RE field including Green
Hydrogen, Green Ammonia, offshore Floating & Hybrid projects.


For further details, please contact: 
Børge Bjørneklett, CEO of Ocean Sun, +47 90195778
Karl Lawenius, CFO of Ocean Sun, +47 45633881