Swedish energy storage company Azelio and Indian company Atria Power have signed a Memorandum of Understanding (MoU) to work together to install more than 65 MW of Azelio’s energy storage capacity in India by 2025.
The agreement is Azelio’s first in the country, a market with significant potential for solutions to renewable energy in off-grid areas.
Atria Power plans to use Azelio’s energy storage technologies to generate both electricity and heat. By integrating Azelio’s energy storage systems with cooling and water desalination technologies, Atria will provide zero-emission power, drinking water and cooling for rural villages and communities in India.
The MOU will establish a collaboration of more than 65 MW until 2025, beginning with small-scale commercial installations of 100 kW in 2021, followed by large-scale installations with an estimated total of 12 MW in 2023, 18 MW in 2024 and 35 MW in 2025. Atria intends to extend its Indian market business portfolio as a project developer and device integrator of energy projects using Azelio’s technology.
“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.”Sunder Raju, director of Atria Power.
“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.”Jonas Eklind CEO of Azelio.