The Business Bytes
New Delhi, April 30, 2024 (TBB Bureau): NHPC Limited, India’s foremost entity in hydropower development, has forged a strategic alliance with M/s Ocean Sun, a pioneering Norwegian firm specializing in floating solar technology.
Under the Memorandum of Understanding (MoU) inked between the two entities, NHPC and Ocean Sun are set to collaborate on the deployment and demonstration of Ocean Sun’s innovative floating solar energy solution, which harnesses the power of photovoltaic panels mounted on hydro-elastic membranes.
This landmark agreement marks a significant step forward in NHPC’s commitment to sustainable development and the expansion of renewable energy capacities. Beyond its traditional focus on hydroelectric power, NHPC has been actively involved in diversifying its energy portfolio, venturing into solar, wind, and green hydrogen projects.
The MoU, signed on April 29, in a hybrid mode, signifies NHPC’s dedication to embracing cutting-edge technologies for cleaner energy generation. Representing NHPC were Executive Director (Renewable Energy and Green Hydrogen), Shri V.R. Shrivastava, alongside distinguished officials including Director (Technical), Shri Raj Kumar Chaudhary, and Executive Director (Strategy Business Development & Consultancy), Shri Rajat Gupta.
On the other side, CEO of Ocean Sun, Kristian Tørvold, played a pivotal role in solidifying the partnership. The signing ceremony witnessed the esteemed presence of May-Elin Stener, Ambassador of Norway to India, and Acquino Vimal, Ambassador of India to Norway, along with representatives from both NHPC and Ocean Sun, demonstrating the collaborative spirit and global significance of this venture.
With this collaboration, NHPC strides towards realizing its vision of embracing renewable energy solutions that not only contribute to the country’s energy security but also mitigate environmental impact, paving the way for a more sustainable future.
