UAE-based solar energy company ALEC Energy and Swedish company Azelio have signed a Memorandum of Understanding (MoU) to develop and install Azelio's thermal energy storage technology in the Middle East and Africa markets.

Under the MoU, the two companies will work together to install storage totaling 49 megawatts (MW) until 2025, starting with 150 kW (kilowatts) in 2021, 4 MW in 2022, 7 MW in 2023, 13 MW in 2024 and 25 MW in 2025, a press statement from Azelio said.

Azelio's long-duration thermal energy storage can be coupled to solar PV, wind power, or any other energy source, store the energy in recycled aluminum and supply renewable power, as heat and electricity, on demand around the clock, according to the statement.

The agreement will enable ALEC Energy to expand its offerings to include supply of electricity and heat to its commercial and industrial clients, the statement said.

It noted that Azelio is currently working on an energy storage verification project in Abu Dhabi with Masdar and Khalifa University.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#UAE #ALECEnergy #Azelio #Renewableenergy #Masdar

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