Swedish energy storage company Azelio and India’s Atria Power have signed a Memorandum of Understanding (MoU) to collaborate on installing over 65MW capacity of Azelio’s energy storage until 2025 in India.
The agreement is Azelio’s first in India, which is seen as a market with the potential for renewable energy solutions in off-grid areas.
Atria Power intends to use Azelio’s technology for storing energy to deliver both electricity and heat. By combining Azelio’s energy storage units with cooling and water desalination technologies, Atria will offer zero emission electricity, potable water, and cooling for rural villages and communities in India.
Azelio’s storage technology can be coupled to solar PV, wind power, or any other energy source, storing the energy in recycled aluminium and supplying it as heat and electricity on demand around the clock.
The MoU frameworks a collaboration over 65MW until 2025, starting with small scale commercial installations of 100kW in 2021, followed by installations of larger scale with an expected total of 12MW in 2023, 18MW in 2024 and 35MW in 2025.
“Atria’s investments in and understanding of renewable energy technology will allow Atria and Azelio to collaborate in providing clean electricity and low temperature heat around the clock. Atria is very excited about this collaboration and intends to partner with Azelio to bring alternative technologies to the rural Indian marketplace,” says Sunder Raju, Director of Atria Power.
Jonas Eklind, CEO of Azelio,says: “Atria is a rapidly growing and well renowned renewable power producer in India with strong financial backing and a solid customer base. We are delighted to partner with them and through sustainable technology raise prosperity in rural India. This MoU also illustrates the value that can be created by the low temperature heat our system generates.”
Atria Power, part of Atria Group, is a renewable energy power producer with operational renewable energy plants of 522MW, of which 373MW wind and 100MW solar PV, and 350MW under development.