ACEN Corp. said Wednesday that its joint venture, ACEN-Silverwolf Pte Ltd., had signed a non-binding memorandum of understanding (MOU) with Norwegian firm Ocean Sun AS to deploy the latter's floating solar technology across selected Asian markets.
ACEN said the agreement included the development and deployment of utility-scale floating solar installations for freshwater reservoirs and inland water bodies.
"This memorandum of understanding establishes a clear pathway to scale Ocean Sun's floating solar technology together with a highly experienced renewable energy developer,” Ocean Sun CEO Kristian Torvold said.
“It supports our capital-light licensing strategy in the utility segment and provides a structured route from pilot projects to utility-scale deployment, particularly in competitive freshwater environments," he added.
Meanwhile, ACEN-Silverwolf Chairman Kelvin Yuen said: "Ocean Sun AS brings a floating solar technology that has been developed and refined over many years, with a clear focus on robustness and suitability for freshwater installations.”
The memorandum of understanding will help provide a structured way to support and deploy its technology in that context," he added.
ACEN-Silverwolf and its companies own and operate over 100 megawatts (MW) of commercial and industrial renewable energy assets across China, Hong Kong, Malaysia, Thailand and Singapore.
On Wednesday, ACEN Corp.'s share price fell by 15 centavos to close at P3.10 apiece.
ED PAOLO SALTING
