G8 Awarded LOI for the Installation of the Largest Next Generation 65MW Floating Solar system at BUI Hydro Dam in West Africa

• The Bui
  Dam is a hydroelectric project in Ghana, built on the Black Volta River at the
  Bui Gorge
• G8 entered
  LOI with BUI Power Authority Ghana to install a full turnkey 65MW system at BUI
  Hydro Dam facility

SINGAPORE – Media OutReach – 22 February 2022 – G8 Subsea, Singapore-based
technology company with global expertise in offshore and marine renewable
energy projects today, announced that the Company has been awarded with an
agreement by BUI Power Authority Ghana to install a full turnkey 65MW system at
BUI Hydro Dam facility.

The Group will install the GPM-65 floating
solar system- featuring G8’s new generation flotation and high output
Photovoltaic modules to increase power production capacity of Hydro Power
Plants with an advanced power management system. This is to ensure efficient
power and load transfer between solar and hydro-power.

The GPM-65 Solar-Hydro System will occupy
approximately 350,000m2 of water space at Black Volta River close to the Hydro
dam vicinity. The Solar-Hydro system will be incorporated with G8’s marine
engineered mooring and flotation technology to cater to different depth
variations of the dam throughout the year. The system will feature an advanced
power management system with an optional ESS (Energy Storage System) to
integrate the function of solar power and hydropower generation.

G8’s management, together with local joint
venture partner KW Renewables, conducted a site assessment of the hydro dam
facility to initiate logistics and project preparation with BUI operations
team. The system is part of an extension to a present 5MW system and is
targeted to be commissioned by third quarter 2023.

G8’s unique expertise in marine construction
and floating solar engineering will provide a high-quality solution to BUI with
the latest technology to integrate Solar & Hydropower to increase renewable
energy production in Africa.