ECONOMY

Ocean Sun, MP Quantum Group sign deal for floating solar in Greece, Cyprus

ocean-sun-mp-quantum-group-sign-deal-for-floating-solar-in-greece-cyprus

Norwegian company Ocean Sun announced on Tuesday it had signed an agreement with Greece’s MP Quantum Group (MP) to develop floating solar energy systems based on Ocean Sun’s proprietary technology in Greece and the Republic of Cyprus.

“We are pleased to enter this collaboration with one of the most well-reputed business families in Greece. The Alafouzos family has an impressive track record of successful businesses and we are honored to have them as ambassadors, developers and enablers of Ocean Sun floating PV systems,” said Børge Bjørneklett, CEO and founder of Ocean Sun.

“MP has a strong team and a good plan to realize utility scale floating solar in the region,” he added.

For his part, MP Quantum Group Chairman Yiannis Alafouzos stated that “floating solar is an excellent fit for the energy markets in Greece and Cyprus, with good irradiation, water resources and a commitment from authorities to push for the renewable energy transition.”

“Ocean Sun has a world-leading solution for floating solar with its low capex and high-power output. In addition, the seaworthiness of the system enables deployment along our widespread shores and island communities,” he added.

With this deal, the two companies aim to develop utility scale floating solar, both on inland reservoirs and for ocean applications.

The first phase of the collaboration is a pilot system, for which permits shall be acquired within 2021, Ocean Sun said.