Norwegian floating solar company Alotta has raised NOK 63.5 million (USD$6.4 million) to accelerate global expansion, following a landmark 15-year power purchase agreement (PPA) with Mowi Chile. Mowi is the world’s largest salmon farmer, producing around 20% of global farmed Atlantic salmon and exporting to more than 70 countries.
The agreement covers renewable power delivery to Mowi Chile’s salmon farming site at Huar Norte, located in the Los Lagos region. Alotta currently focuses on floating solar for aquaculture. Its dual revenue model is technology delivery through Alotta AS and recurring kWh revenues through Alotta Energy.
Wilstar Innovate AS led the funding round alongside existing backers Norselab, Umoe, Bondø Invest and Pir Invest. Proceeds will be used to scale operations internationally, with focus on Chile. As the second-largest salmon-producing nation globally, Chile has over 600 active farming sites across Los Lagos, Aysén and Magallanes. Nearly all are off-grid and dependent on diesel generators.
“By combining technology delivery through Alotta AS with long-term kWh supply from Alotta Energy, we create both impact and profitability,” said Alotta CEO Kari-Elin Hildre. “This is what makes our model attractive to global leaders like Mowi – they get clean power without having to own or operate the systems themselves.”
