ALEC Energy and Azelio have signed a Memorandum of Understanding (MoU) that covers a collaboration of over 49 MW installed capacity of Azelio’s thermal energy storage until 2025. The projects are focused on 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 the business offering, to supply electricity and heat to commercial and industrial clients using Azelio’s long-duration thermal energy storage. The storage technology developed by Azelio can be coupled with solar PV, wind power, or any other energy source. It can store the energy in recycled aluminium and cost-efficiently supply renewable power as heat and electricity on demand around the clock. The collaboration will start 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.
Read the article online at: https://www.energyglobal.com/energy-storage/15072020/alec-energy-and-azelio-sign-energy-storage-mou/