SolarDuck has secured additional funding for developing and deploying Offshore Floating Solar power technology. This funding enables the start-up to deliver its first commercial projects and increase its impact as it works towards deploying over 1 GW of offshore-generated solar electricity by 2030.
Both existing and new investors have provided the funding. An international consortium of Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam, and Invest-NL agreed to support SolarDuck’s ambition for a sustainable energy supply. SolarDuck can extend its leading position with the new funding by deploying its first commercial projects. In addition, it aims to optimize the technology to build new markets and accelerate roll-out.
As the world is electrifying and a rising world population and urbanization result in land scarcity, the market for offshore energy generation is increasing. SolarDuck’s technology can be deployed in wind-scarce but sun-rich regions as ‘stand-alone’ offshore floating solar farms. Co-locating SolarDuck technology with offshore wind is also possible, as will happen in the Dutch North Sea. This technology also enables island and offshore installations to set up an independent renewable energy supply.
Pipeline
SolarDuck has a pipeline of over 3.5GWp and has already secured projects worldwide. Amongst other projects, work is being done on a 5MW demonstrator project to be installed at the Hollandse Kust West VII offshore wind park in the Netherlands (North Sea) in collaboration with RWE. When completed, it will be the largest hybrid floating solar plant.
In addition, SolarDuck is providing Japan’s first offshore floating solar plant to be installed in Tokyo Bay with local partners. A third project is underway with TNB Renewables in Malaysia. Ahead of these projects, SolarDuck will launch its offshore demonstrator project named ‘Merganser’ early next year. It will be installed and tested in the Dutch North Sea.
Koen Burgers, CEO and co-founder of SolarDuck, is delighted with this latest round of funding. “SolarDuck is introducing a new asset class of energy generation. With demand increasing, offshore floating solar offers real promise for decarbonizing our energy supply. This successful funding round provides us with the means to continue developing and deploying our Team and technology.”
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