Prize-winning solar company, ALEC Energy and Swedish company Azelio has recently signed a Memorandum of Understanding that covers a partnership over 49 MW installed capacity of Azelio’s thermal energy storage until 2025. The projects are focused to the Middle East and African markets, where Alec Energy targets to enlarge its business proposing as a renewable energy project developer and system integrator.
The two companies have signed a memorandum of understanding to partner on thermal energy storage until 2025. The total capacity included in the collaboration will be divided into 150 kW in 2021, 4 MW in 2022, 7 MW in 2023, 13 MW in 2024 and 25 MW in 2025.
James Stewart, General Manager of ALEC Energy stated, “We look forward to working with Azelio in a long-term partnership with the opportunity to introduce this renewable technology across the wider region and building upcoming inventive energy storage verification project”.
The agreement will allow solar company ALEC Energy to add to its business offering electricity and heat supply to commercial and industrial clients using long-duration thermal energy storage.
According to the Swedish company Azelio, its storage solution can be combined with photovoltaic (PV), wind power or any other energy source to supply renewable electricity 24/7.
CEO of Azelio, Jonas Eklind further highlights, “Azelio is in progress to establish in the region through a verification project in Abu Dhabi together with Masdar and Khalifa University. We are now firming up our position further through collaborating with a well-established company such as ALEC Energy. We anticipate a prosperous establishment and future in the region”.