ALEC Energy and Swedish company Azelio has signed a Memorandum of Understanding (MoU) that covers a collaboration 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 aims to expand its business offering as a renewable energy project developer and system integrator.
ALEC Energy and Azelio reached an agreement to expand its business offering, to supply electricity and heat to Commercial & 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 has more than 12,000 staff and labours.
“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.
Jonas Eklind CEO of Azelio, added: “Azelio is under way to establish in the region through a verification project in Abu Dhabi together with Masdar and Khalifa University. We are now strengthening our position further through joining hands with a well-established company as ALEC Energy. We foresee a successful establishment and future in the region.”