Swimsol GmbH commits to seek new partnerships with Small Island Development States in order to advance floating solar energy at sea, which will make clean energy possible for small island beyond the limitations of land. With this commitment, we are using the ocean to create sustainable economic benefits for SIDS and to foster a blue economy. Our commitment will also reduce CO2 as well as fossil fuel shipments, thereby helping to counter ocean acidification and climate change. Through this, we strive to support SIDS to achieve SDG 14.
Currently, many small islands depend on expensive and polluting electricity produced by diesel generators. The CO2 emissions contribute to climate change and ocean acidification, which in turn affects these islands. Moreover, the large number of diesel shipments bears the risk of oil spills, with catastrophic consequences - both large-scale as well as on a micro-level during the distribution within the country.
Solar energy holds tremendous potential as a clean and renewable alternative. However, to produce larger amounts of solar energy, a lot of physical space for solar panels is required. Many islands suffer from severe land scarcity, which limits the advancement of solar energy. Moreover, existing rooftops are often small, dispersed and not ideally suited, and larger land areas are sometimes covered by vegetation, clearance of which should be avoided.
On the ocean, however, space is nearly unlimited. Swimsol developed the worlds first floating solar system for the sea, called SolarSea. The technology makes it possible to use the vast ocean surface for solar panels, and has a higher energy output than land-based solar systems due to the cooling effect of the ocean. It can be dimensioned to meet the energy demand of an island, thereby helping whole islands to switch to renewable energy at once rather than implementing dispersed small-scale systems.
The technology is currently implemented in Maldives, where the oldest commercial installation is 2.5 years old. In the Maldives, with the support of the Austrian Development Agency, we developed a model where we fully cover the investment cost of such a system. Moreover, the energy is provided at a price that guaranteed to be less expensive than diesel energy at any point in time, thereby generating net savings from day one.
Now we want to scale the technology in Maldives as well as take it to new Small Island Development States. We are therefore going to conduct research trips, determine feasibility, and create new partnerships with Small Island Development States in order to implement floating solar energy projects with the goal of achieving SDG 14.
As a next step, we are looking to build a 20 platform installation in a new location, that will generate enough energy for around 500 households and thereby save more than 200,000 liters of diesel every year. We have our own network of private investors for financing, and we will seek co-funding from donors and development banks.