ALEC Energy, Azelio sign MoU to supply utilities for MEA
The firms will supply electricity and heat to commercial & industrial clients using Azelio’s thermal energy storage
ALEC Energy and Swedish-based Azelio has signed an memorandum of understanding (MoU) to supply electricity and heat to commercial & industrial clients in the Middle East and Africa (MEA) markets using Azelio’s thermal energy storage until 2025.
The 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 aluminium and cost-efficiently supply renewable power, as heat and electricity, on demand around the clock.
The agreement means that the collaboration will use 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, a business division of the UAE’s ALEC Engineering and Contracting L.L.C, will offer services from concept to commissioning, operations and maintenance of solar PV projects.
The move is part of ALEC Energy’s aims to expand their business offering as a renewable energy project developer and system integrator.
Commenting on the partnership, ALEC Energy general manager, James Stewart, said: “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.”
While Azelio’s CEO Jonas Eklind stated that through the partnership with ALEC Energy, they are now strengthening its position further in the region and foresee a successful establishment and future.