Ocean Sun is proud to announce the successful completion of a pioneering
floating solar installation at the Soneva Secret resort in the Maldives. The
installation features a 2 MWp floating solar plant paired with a 3 MWh battery
storage system and marks a significant step toward affordable and clean energy
independence for islands and remote communities. By replacing diesel generators,
the resort can run up to 90% on renewable energy and save up to 1 million liters
of diesel annually, reducing over 2,000 tons of CO2 emissions each year.

The project is the result of a strong international partnership: Singapore-based
Canopy Power served as the developer and integrator, while Huawei provided
advanced battery and power electronics systems, as well as marketing support. 

This installation represents Ocean Sun's first commercial near-shore system at
megawatt scale and has involved several technological and operational challenges
that have been identified and overcome throughout the installation process. The
project serves as a significant milestone that proves a scalable model for
islands and remote communities worldwide. The market potential is substantial:
the Maldives alone hosts hundreds of resort islands, and the solution is
directly replicable across similar destinations, as well as larger island
societies currently dependent on diesel generation, including the Canary
Islands, Greek islands, and the Caribbean.

"Ocean Sun's patented technology is a unique enabler for this segment, striking
the ideal balance between durability and cost efficiency" says Sujay Malve
Co-founder and CEO of Canopy Power and continues "With an expected payback
period of 4-5 years and a design life exceeding 20 years, this solution offers
both economic and environmental benefits, which we see reflected in our
pipeline." 

"Together with Canopy Power, we're proud to commission our 2 MWp system at
Soneva Secret. This project shows how Ocean Sun's technology can solve real
world challenges, not just for high end resorts, but for any island seeking
cleaner and more affordable power than diesel. It enables electrification where
infrastructure is limited and supports economic growth for island communities
worldwide." Says Kristian Tørvold, CEO of Ocean Sun. 

About Ocean Sun:  
 
By combining 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 is embarking on its vision to be the world's leading technology
provider of floating solar. 
 
For further details, please contact:  
Kristian Tørvold, CEO of Ocean Sun, +47 97088847
Karl Lawenius, CFO of Ocean Sun, +47 45633881