Statkraft Albania, a subsidiary of Norwegian renewable energy company Statkraft, has signed a deal with Norwegian solar technology company Ocean Sun Ltd to supply a floating solar plant.

Statkraft received authorisation from the Albanian Government to implement the floating plant in December 2018. It is formed of four units with 0.5MW of power each, forming a total of 2MW. The project will cost a total of $2.6m (€2.3m) and will be located at the Banja reservoir in Albania.

This will be the first major floating solar park technology contract for Ocean Sun, which was founded in 2016.

Statkraft CEO Christian Rynning-Tønnesen said: “Testing new technology for floating solar 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.”

The company tweeted: “Floating solar can complement existing hydropower infrastructure. Statkraft has selected Ocean Sun for the delivery of a floating solar plant at the Banja reservoir in Albania.”

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Once the plant passes regulatory approvals, construction will begin this year and completion is scheduled for 2020.