Dutch company SolarDuck has secured $16.4 million from existing and new investors for the development and deployment of its offshore solar technology.
The funding has been provided by Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam and Invest-NL. With the new funding, SolarDuck aims to accelerate the deployment of its first commercial projects, while working towards its goal of deploying over 1 GW of offshore generated solar electricity by 2030.
Also, the company said it will continue to optimize its offshore solar technology and build markets around the world for further roll-out.
SolarDuck has a pipeline of over 3.5 GWp, and has already secured projects around the world. Amongst other projects, work is being done on a 5 MW demonstrator to be installed at the Hollandse Kust West VII offshore wind park in the Netherlands, in collaboration with RWE.
In addition, SolarDuck is providing Japan’s first ever offshore solar plant, to be installed in Tokyo Bay with local partners. A third project is underway with TNB Renewables in Malaysia.
Koen Burgers, CEO & Co-founder of SolarDuck, said: “We are delighted to have secured 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 the decarbonization of our energy supply.”