- Partnership aims to accelerate solar plant expansion using advanced floating solar technology.
- Power Purchase Agreement (PPA) signed at $0.058179 per kilowatt-hour, with an allowance of $2 per kilowatt-peak (kWp).
AMSTERDAM, NETHERLANDS / 11-16-2024 – AquaVolt Solutions (AVS), a leading innovator in floating solar infrastructure, has announced a strategic partnership with TenneT (NL), the Dutch government-owned electricity transmission system operator, to expand solar power development across the Netherlands. This collaboration involves an investment aimed at driving the comprehensive growth of the national solar industry and supporting the country’s commitment to renewable energy.
Green Energy Strategy Expansion
According to the agreement, AquaVolt Solutions and TenneT (NL) will collaborate to develop a phased photovoltaic project with a total capacity of approximately 1,500 MW across 4,000 hectares of inland and outland water bodies. This project will utilize advanced floating solar power generation technology and will transmit all generated electricity to the Netherlands’ domestic grid to support the growing demand for green power and advance the government’s goal of achieving zero emissions by 2050.
Maarten, COO of TenneT (NL), stated: “The partnership with AquaVolt Solutions represents a significant step forward in the Netherlands’ commitment to renewable energy. The rapid development of this floating solar project will drive the low-carbon transformation of our energy infrastructure, contribute to the sustainable development of our economy and society, and enhance the nation’s power supply. This is a pivotal move towards achieving zero emissions and creating a better future for the next generation.”
Promoting Employment and Economic Development
The implementation of this floating solar project is expected to create numerous job opportunities, both during the construction phase and by providing long-term employment for local residents during the operational phase. Approximately 70% of the construction work will be completed by local contractors, enhancing the competitiveness and economic vitality of local businesses.
According to economic assessments, the project is expected to create nearly 1,000 jobs nationwide and generate over $500 million in potential economic output. Rashid bin Saeed, CEO of AquaVolt Solutions, remarked:
“This collaboration is of profound significance to both parties, as it not only facilitates our business expansion in the Dutch market but also contributes to the Netherlands’ green energy transition. Our previous successful partnership with Eneco laid the groundwork for this agreement, allowing us to move forward smoothly and efficiently. We are proud to work alongside TenneT (NL) to bring advanced floating solar technology to the forefront of the country’s renewable energy efforts.”
Driving the Netherlands’ Energy Transformation
The successful implementation of this project will significantly reduce the country’s carbon emissions and lay the foundation for achieving the goal of zero carbon emission power generation by 2050. As the project progresses, the Netherlands will secure a more prominent position in the global green energy sector and become a leader in renewable energy development in the region.
With the support of international cooperation and technological advancements, the Dutch government will continue to ensure that the solar industry plays an increasingly important role in the national energy structure through systematic policy support and infrastructure development.
About AquaVolt Solutions
AquaVolt Solutions (AVS) is a leading innovator in the renewable energy sector, specializing in floating solar panel infrastructure. Since its founding in 2016, AVS has been committed to driving the global transition to clean energy by developing and deploying advanced solar solutions that harness the power of water surfaces for sustainable energy production. AVS has collaborated on projects in multiple countries, generating clean energy to support local communities and contributing to global CO₂ emission reduction efforts.
About TenneT
TenneT is a leading European electricity transmission system operator (TSO) with activities in the Netherlands and Germany. Responsible for the reliable and secure supply of electricity to 42 million end-users, TenneT is committed to leading the energy transition, ensuring a sustainable, reliable, and affordable electricity supply for the future.
For more information, please contact:
AquaVolt Solutions
Contact Person: Nick William
Email: support@aquavoltsolutions.com
Website: https://aquavoltsolutions.com/
Sustainability Inquiries: corporatesustainability@aquavoltsolutions.com
Tennet (NL)
Content: Richard Mattison Public Relations
Email richard.mattison@tennet.eu
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