GLOBAL FLOATING SOLAR PANELS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market News

Recent Developments:

• In March 2023, Sungrow FPV, a China based company, made headlines when it secured a significant contract to provide its innovative floating solar solutions for Indonesia's most expansive floating solar endeavor. This pioneering project has been recognized for setting records in terms of its physical challenges with the greatest water depth to date at 94 meters, water level changes peak at 18 meters, and it features an underwater elevation distinction reaching up to 50 meters. The groundbreaking 192 MW Cirata floating solar initiative was expected to commence receiving system deliveries from Sungrow FPV within the first quarter of the year.
• In July 2023, Sarawak Energy Bhd (SEB) decided to partner with China-based Trina Solar Company to launch its first large-scale floating solar power project.
• The project will be located at the Batang Ai Hydropower Plant in Sri Aman Division, which will generate 71 MW and will be spread over a vast area of 190 hectares.
• Trina Solar's scope of services includes not only the construction of this floating PV (photovoltaic) system, but also the improvement of existing high-voltage substations and ongoing operation and maintenance (O&M) services. The project is expected to be completed.
• In August 2023, Madhya Pradesh state in India launched its first module of floating solar system in Omkareshwar. This new floating solar project aims to achieve the state's renewable purchase obligation (RPO) target. and operational by the end of 2024.
• GreenYellow Limited, a subsidiary of GreenYellow, established 2MW floating solar power plant a SPM Group's facilities in Thailand in February 2021.