Swedish-based solar PV installer Svea Solar has signed a Memorandum of Understanding with Azelio to accelerate the installation of solar+energy storage projects in Sweden and Europe.
The two companies will develop projects using Azelio’s long-duration energy storage technology.
Svea Solar and Azelio will deploy at least three projects in 2021, five projects in 2022, and 10 projects in 2023.mThe projects will account for a total of 8MW of installed power and more than 100MWh in equivalent storage capacity.
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Azelio’s storage solution stores renewable energy in recycled aluminum. The energy can be dispatched on demand as electricity and heat during the dark hours and at times during the day when direct production is not sufficient.
Jonas Eklind, CEO of Azelio, said: “I am proud to initiate this collaboration and glad that Svea Solar wants to address the energy storage segment together with Azelio. Our solutions complement each other perfectly, extending the use of renewable energy for all hours of the day.”
Erik Martinson CEO of SVEA Solar, adds: “Svea Solar is leading the power shift towards renewable solar energy in the Nordics. Together with Azelio we will proudly offer a superior long-duration storage solution. This is yet another great step towards sustainable living through innovation for customers across Europe.”