In recent years, numerous projects for floating PV systems have been developed. These plants of various sizes have mainly been installed on enclosed lakes or basins characterised by the absence of external forcing related to waves and currents. However, offshore installation would allow the development of such plants in areas where land is not available, such as islands. This paper analyses the state of the art of floating PV, describes the design of a floating PV platform and the development of a numerical model to evaluate the system performance in an offshore environment. The case study of the island of Lampedusa is then analyzed: starting from a single floating foundation with its mooring system, a floating PV system is designed to meet the island’s electricity needs. In order to provide the competitiveness of the system, a techno-economic analysis is carried out, evaluating the main cost items of Capex, Opex and LCOE. Although the LCOE obtained is significantly higher than a traditional solar plant installed on land, this technology is competitive compared to other offshore marine technologies such as offshore wind and wave energy.