Ocean Sun announces the commencement of a groundbreaking 2MWp floating solar
power system at Soneva Secret, a luxurious resort in the Maldives. The floating
solar system, featuring three interconnected floaters, will reduce the resort's
reliance on diesel generators, and provide clean, sustainable energy to power
its operations. This landmark project, completed in partnership with Canopy
Power, marks the world's largest floating solar installation connected to a
resort.

Work on the floating solar installation will begin immediately, with completion
targeted for Q1 2025. Once operational, the system will power Soneva Secret with
solar energy that, supported by batteries, will reduce the need for
diesel-generated electricity. This transition not only lowers the resort's
carbon footprint, promoting eco-tourism, but also substantially cuts electricity
costs, benefiting both the environment and the resort's operations.

Kristian Tørvold, CEO of Ocean Sun, shared his enthusiasm for this pioneering
project. 
"Ocean Sun is excited to start powering island nations, reducing dependency on
highly polluting diesel. We see this as the first of many similar installations
for the thousands of islands in need of renewable energy. Canopy Power is a
great partner in this pursuit, and we look forward to the collaboration,".


"We are thrilled to lead this innovative project to accompany Soneva Secret for
its transition to renewable energy, in partnership with Ocean Sun. The
combination of the best in class technologies, the solid expertise and
experience of our companies, and the unwavering commitment of the parties to the
clean energy, create the condition of the success and pave the way for a
brighter, more sustainable future", said Sujay Malve, CEO and founder of Canopy
Power. 

The Maldives is home to over 150 resort islands, making it a prime location for
renewable energy projects. Globally, there are thousands of resort islands,
presenting a substantial market opportunity for similar floating solar
solutions.

Ocean Sun's solution has proven to be a robust and cost-effective option for the
sheltered nearshore market. The structure is designed to withstand waves larger
than the expected 1-2 meters, ensuring reliable performance and durability in
the Maldives' marine environment.


About Ocean Sun: 
By combining the 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 is embarking on its vision to become the world's leading
technology provider of floating solar.

About Canopy Power: 
Canopy Power is an engineering company, specialized in renewable microgrid
systems for businesses and communities located in remote areas. Canopy Power
accompanies Commercial and Industrial clients, to transition to the renewable
energy, thanks to its strong expertise and experience in complex hybrid
microgrid systems implementation, integrating solar, floating solar, wind,
battery, diesel generator and renewable assets. In addition, Canopy Power
provides engineering services from feasibility study, design, sourcing,
commissioning, project management for Microgrid hybrid systems, helping
companies to prepare, plan and derisk their renewable energy projects. Since
2016, Canopy Power has been serving the Asia Pacific market and has offices in
Singapore and in Australia.


For further details, please contact:
Kristian Tørvold, CEO of Ocean Sun, +47 97088847