Alec Energy signs solar storage agreement with Swedish company

13 Jul 2020
Alec Energy signs solar storage agreement with Swedish company

Dubai-based Alec Energy has signed a memorandum of understanding (MoU) with Sweden’s Azelio to collaborate on energy storage for projects with a capacity of more than 49MW up to 2025.

 

Dubai-based Alec Energy has signed a memorandum of understanding (MoU) with Sweden’s Azelio to collaborate on energy storage for projects with a capacity of more than 49MW up to 2025.

The projects will be developed in the Middle East and Africa markets.

The storage technology developed by Azelio can be coupled with photovoltaic (PV) solar, wind power or any other energy source. The energy produced can be stored in recycled aluminium and then supply renewable energy as heat or electricity 24 hours a day.

Under the MoU, the technology will be rolled out until 2025 with the first 150kW in 2021, 4MW in 2022, 7MW in 2023, 13MW in 2024 and the remaining 25MW in 2025.

“‘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,” James Stewart, general manager of Alec Energy, was quoted in a released statement following the signing of the MoU.

Alec Energy has already installed more than 20MW of solar capacity in Dubai under the Shams Dubai net-metering system. Alec Energy is part of parent company Alec, which is part of the Investment Corporation of Dubai (ICD).

Established in Sweden in 2008, Azelio is a publicly-listed company specialising in thermal energy storage and low-cost stirling-based electricity and heat production. The storage technology enables heat to be stored for up to 13 hours on nominal power, and has a total efficiency of up to 90 per cent from energy to heat and electricity, according to the group.

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