NHPC Limited, a hydropower company, has recently entered into a Memorandum of Understanding (MoU) with Ocean Sun, a Norwegian firm specializing in floating solar technology. Under this agreement, NHPC and Ocean Sun will collaborate to demonstrate the efficacy of Ocean Sun’s floating solar energy technology, utilizing photovoltaic panels mounted on hydro-elastic membranes. The specific sites for implementing this technology will be identified by NHPC.
This collaboration aligns with NHPC’s ongoing commitment to sustainable development and the expansion of renewable energy capacity. NHPC is not only involved in hydroelectric power development but also in various renewable energy projects such as solar, wind, and green hydrogen initiatives.
The MoU, signed on April 29, 2024, in a hybrid format, involved VR Shrivastava, Executive Director (Renewable Energy and Green Hydrogen) of NHPC, and Kristian Torvold, CEO of Ocean Sun. The signing ceremony was attended by May-Elin Stener, Ambassador of Norway to India, Raj Kumar Chaudhary, Director (Technical) of NHPC, and Rajat Gupta, Executive Director (Strategy Business Development and Consultancy) of NHPC, along with representatives from the Embassy of Norway in New Delhi and the Embassy of India in Oslo.
India’s energy landscape heavily relies on imports, making solar energy an attractive avenue to reduce dependency on imported fuel. At the COP26 summit in 2021, India made significant commitments under its “Panchamrit” pledge, including reaching 500 GW of non-fossil electricity capacity, generating half of its energy from renewables, reducing emissions by 1 billion tonnes by 2030, lowering emissions intensity of GDP by 45%, and achieving net-zero emissions by 2070. Currently, about 44% of India’s energy needs are met by non-fossil sources, a figure projected to rise to 65% by 2030, surpassing the targets set at the COP summit in 2021.
