^{Photo credit: Ocean Sun}

ACEN-Silverwolf,  a joint venture between ACEN Renewables International, the international investment arm of ACEN, and Silverwolf Capital Limited, have signed a memorandum of understanding (MoU) with Norwegian renewable energy technology company Ocean Sun to explore the deployment of utility-scale floating solar projects across selected Asian markets.

The agreement, announced on May 20, will establish a strategic framework for deploying Ocean Sun’s patented technology, which uses solar modules mounted on hydro-elastic membranes that float directly on water. The company said its system is designed to deliver cost and performance advantages over conventional floating photovoltaic platforms, particularly in freshwater installations.

“This MoU establishes a clear pathway to scale Ocean Sun’s floating solar technology together with a highly experienced renewable energy developer,” Ocean Sun Chief Executive Officer 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.

ACEN-Silverwolf Chairman Kelvin Yuen said the collaboration would allow the joint venture to assess the technology for wider deployment.

“Ocean Sun 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. For ACEN-Silverwolf, this is an important consideration as we assess technologies that can be deployed at scale across our portfolio, and the MoU provides a structured way to support and deploy Ocean Sun’s technology in that context,” he said.

ACEN-Silverwolf owns and operates more than 100 megawatts of commercial and industrial renewable energy assets across China, Hong Kong, Malaysia, Thailand, and Singapore.

ACEN, part of the Ayala Group, has 7 gigawatts of attributable renewable energy capacity across projects in operation, under construction, and with signed agreements. The company’s core market remains the Philippines, where it continues to expand solar, wind, and energy storage investments.

What opportunities do you see for floating solar in the Philippines’ reservoirs and hydropower assets? Join the discussion.

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