Ocean Sun and Sunseap have signed an agreement for a 1.2 MWp floating PV project
to be deployed near an island to the south of Singapore. The project is a
full-scale demonstrator comprising of two Ocean Sun systems that will pave the
way for utility scale developments in Singapore and Southeast Asia. The system
will be the largest floating solar system in the Singapore Strait and
construction is scheduled during Q3'22. 

"This project is another significant milestone for Sunseap as we continue to
explore alternative methods to deploy solar PV systems in land scarce Singapore.
Floating PV systems have the potential to generate more solar energy compared to
traditional rooftop and ground-mounted solar PV systems." - Says Frank Phuan,
Business CEO and Co-Founder of Sunseap Group. He adds: "Ocean Sun's innovative
floating PV system is highly efficient, robust and can be easily installed, and
we look forward to collaborating on other projects in future." 

"High cost of land makes floating solar a very attractive solution for Singapore
to increase renewable energy production. We are therefore very pleased for the
opportunity to further demonstrate our technology's advantages in the region and
to strengthen our relationship with one of the most ambitious renewable energy
developers in Singapore and Southeast Asia." - Says Børge Bjørneklett, CEO and
founder of Ocean Sun.  


About Sunseap:

Sunseap Group is a solar energy system developer, owner, and operator in
Singapore, with a pipeline of close to 10 GWac of solar energy projects across
Asia. Its solar energy systems can be found on more than 3,000 buildings in
Singapore, including public housing estates, as well as commercial and
industrial buildings.

Sunseap also operates in various territories across the Asia Pacific, including
Vietnam, Cambodia, China, Taiwan, Japan, Thailand and Malaysia. Sunseap is part
of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy
sector and one of the world's largest renewable energy producers.


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's vision is to become the world's leading technology
provider of floating solar.
 
For further details, please contact:
 
Børge Bjørneklett, CEO of Ocean Sun, +47 90195778