OCEAN SUN OSUN NON-REGULATORY PRESS RELEASES

Ocean Sun and UAPÊ sign MoU for 6 MWp floating solar project supporting datacenter development in Brazil

11. November 2026 kl. 07:00

Ocean Sun AS has signed a MoU with UAPÊ Energias Solares for the development of an approximately 6 MWp floating solar project at Pecém in the state of Ceará, Brazil.

The MoU establishes a framework for the parties to collaborate on the development of the floating solar project, with UAPÊ leading local project development, permitting, grid connection and financing activities, and Ocean Sun contributing its floating solar technology and technical expertise. The project remains subject to, among other conditions, securing the necessary project equity financing, and the negotiation and execution of definitive project agreements.

The Pecém development is being evaluated as part of a broader energy concept combining floating solar generation, battery storage and a co-located modular datacenter. Under the MoU, the approximately 6 MWp floating solar installation constitutes the initial scope, while the datacenter and battery storage facilities would be developed under separate arrangements.

The concept illustrates a potential future application for floating solar, as electricity demand from datacenters continues to grow. Locating renewable generation and storage close to power-intensive digital infrastructure could enable distributed datacenter developments in locations where suitable water surfaces and energy demand coincide. Floating solar can use these water surfaces for generation while limiting the requirement for additional land.

"Datacenters represent a rapidly growing electricity demand, and we believe floating solar can become part of the solution. Pecém gives us the opportunity to explore a model where floating solar, battery storage and distributed datacenter infrastructure are developed together, while building on the local capabilities we now have established in Brazil." Kristian Tørvold, CEO of Ocean Sun

The agreement follows the successful development of Rio One in Pindamonhangaba, Ocean Sun's first floating solar installation in Brazil. The 312kWp project achieved first power in October and was officially inaugurated on 5 November. Rio One provides Ocean Sun and UAPÊ with an operating reference project in Brazil and a local platform for further floating solar installations in the country.

"Rio One demonstrated that floating solar can be successfully delivered in Brazil. Pecém builds on this achievement, taking FPV to a larger scale and addressing two critical challenges of the new industrial revolution, growing energy and water demand. Ocean Sun's floating solar solution generates clean electricity without occupying valuable land, while preserving water resources by reducing evaporation from reservoirs." Paulo Kessler, UAPÊ Energias Solares

The MoU is non-binding, and implementation will depend on further project development, permitting, financing and the execution of definitive agreements.

For more information, please contact: Kristian Tørvold, CEO of Ocean Sun +47 970 88 847

About UAPÊ Energias Solares: UAPÊ Energias Solares is a Brazilian floating solar developer that turns underutilized water surfaces into generation assets. The company develops its own sites from engineering and permitting through to energization, serving hydropower hybridization, industry, utilities and other large power consumers.

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.