Statkraft Albania signed a contract with Norwegian floating solar technology developer Ocean Sun AS for the delivery of a 2-megawatt floating solar plant, Statkraft announced Tuesday.

The solar park will be built at the Banja reservoir in Albania, and consist of four floating units of 0.5 MW each, with a total investment cost of €2.3 million, according to the statement of the Norwegian energy company.

The contract is the first major commercial contract for Ocean Sun's floating solar technology, it said.

"Testing new technology for floating solar power panels fits very well with Statkraft's strategy to grow our renewable energy generation from hydro, wind and solar. If the technology is proven successful and the potential for cost-competitiveness can be achieved, a wider application of floating solar may take place in other Statkraft locations," said CEO Christian Rynning-Tonnesen.

According to the press release, Statkraft Albania received preliminary authorization from the government of Albania in December 2018 for the implementation of a floating solar plant at Banja with a feed-in-tariff. Subject to final regulatory approvals, the solar plant will be constructed during 2019/2020.

By Hale Turkes

Anadolu Agency

energy@aa.com.tr