The companies reached an agreement to expand their business offering, to supply electricity and heat to commercial and industrial clients using Azelio’s long-duration thermal energy storage. The unique storage technology developed by the Swedish company can be coupled to solar PV, wind power, or any other energy source, store the energy in recycled aluminum and cost-efficiently supply renewable power, as heat and electricity, on demand around the clock.
The signed MoU frameworks a collaboration over 49 MW until 2025, starting with 150 kW in 2021, followed by 4 MW in 2022, 7 MW in 2023, 13 MW in 2024 and 25 MW in 2025.
ALEC Energy is a business division of ALEC Engineering and Contracting L.L.C (ALEC) and offers a complete spectrum of services, from concept to commissioning, operations and maintenance of Solar PV projects. ALEC is part of the Investment Corporation of Dubai and employs more than 12,000 people.
“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 constructing upcoming innovative energy storage verification project,” said James Stewart, general manager of ALEC Energy.