Investment in SolarDuck accelerates energy transition

Offshoresolarenergy as asolution tolandscarcity

Invest-NL, the National Promotional Institute, is committed to the transition towards sustainable energy. Solar energy plays a pivotal role in this energy transition, yet land availability often remains a challenge. We are pleased to announce today that SolarDuck, a pioneer in offshore solar development, has raised €15 million in a funding round, with Invest-NL contributing €5 million.

The funding round saw participation from both existing and new investors. Invest-NL is part of an international consortium with Katapult Ocean, Green Tower, and the Energy Transition Fund Rotterdam. This marks the first investment in SolarDuck for both Invest-NL and the Energy Transition Fund. The new funding will enable SolarDuck to further develop its leadership role in this sector by rolling out its first commercial projects. In addition, its seasoned team continues to optimise the technology for global market development and accelerate the deployment of this innovative solution.

Corine Franken, senior investment manager at Invest-NL, commented, “SolarDuck is at the forefront of the offshore floating solar energy sector. This innovative, scalable solution addresses the growing demand for renewable energy and the scarcity of land. Invest-NL is excited to support their strong, professional management team, which possesses extensive knowledge of the offshore and energy sectors.”

Global Presence in offshore solar energy

SolarDuck develops offshore solar installations. The venture currently has a sales pipeline exceeding 3.5 GWp and is developing projects worldwide. Among others, the company is working on a 5MWp demonstrator project to be installed at the Hollandse Kust West VII offshore wind farm in the Netherlands (North Sea), in collaboration with RWE. Upon completion, this will be the world’s largest hybrid floating solar platform.

Additionally, SolarDuck is delivering Japan’s first-ever floating solar installation in Tokyo Bay, realized with local partners. A third project is underway with TNB Renewables in Malaysia. Prior to these, SolarDuck will launch its offshore demonstrator project named ‘Merganser’ early next year, to be installed and tested in the Dutch North Sea.