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Manila Bulletin devider Business devider Trade & Industry devider ACEN teams up with Norwegian firm for floating solar expansion in Asia

ACEN teams up with Norwegian firm for floating solar expansion in Asia

Published May 20, 2026 02:54 pm

Ayala-led ACEN Renewables International Pte. Ltd. (ACRI), through its joint venture (JV) renewable energy (RE) platform, has secured a partnership with a Norwegian firm to roll out floating solar developments across key Asian markets.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, May 20, the company announced that ACEN-Silverwolf, the JV firm of ACRI and Silverwolf Capital Ltd., has inked a non-binding memorandum of understanding (MOU) with Ocean Sun AS, a Norwegian floating solar company, to develop utility-scale floating solar installations designed for freshwater reservoirs and inland water areas.

The implementation of the binding collaboration framework remains subject to securing regulatory approvals and finalizing definitive documentation.

Once finalized, Ocean Sun will leverage its patented technology and maritime expertise, while ACEN-Silverwolf will provide regional project development experience and strong credentials in the RE sector.

The partnership comes at a time when Ocean Sun is advancing its product development and rolling out updated designs for freshwater installations to ensure cost-competitive, utility-scale deployment.

“This MOU establishes a clear pathway to scale Ocean Sun’s floating solar technology together with a highly experienced RE developer,” said Kristian Torvold, Ocean Sun AS chief executive officer (CEO).

“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.

Kelvin Yuen, ACEN-Silverwolf chairman, said the new partner was selected because of its years of expertise in floating solar technologies.

“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,” Yuen said.

Operating in Oslo, Singapore, and Shanghai, Ocean Sun has patented a technology based on solar modules mounted on hydro-elastic membranes, offering cost and performance advantages over other floating photovoltaic technologies.

Although the partnership has yet to announce the areas targeted for floating solar deployment, ACEN-Silverwolf currently operates more than 100 megawatts (MW) of RE solutions in Asian markets, including China, Hong Kong, Malaysia, Thailand, and Singapore.

ACEN, meanwhile, has solidified its Asian presence in Vietnam, India, Laos, and Indonesia, while also operating projects in Australia.

So far, the company has about seven gigawatts (GW) of attributable RE capacity that are operational, under construction, or considered committed developments.

Furthermore, ACEN aims to generate 100-percent clean energy, with the goal of achieving net-zero greenhouse gas (GHG) emissions by 2050. - Gabriell Christel Galang

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