STOCKHOLM, Oct. 17, 2019 /PRNewswire/ — Azelio has signed a Memorandum of Understanding (MoU) with the Swedish business Nordic Distributed Energy AB (ND Energy) for a modest-scale project in Zambia. The installation will operate below true-planet industrial terms and serve as a model for ND Power’s future installations in the Southern African area.
The initial project is a plant of 50 kWe in Zambia, set to turn into operational in Q3 2020. Azelio’s program will shop power from solar PV and dispatch it on demand and about the clock. When the power storage is totally charged, electrical energy can be created for 13 hours at nominal energy. A preliminary finish-user has been identified and has submitted an Expression of Interest (EoI) for the resolution. The finish user’s business enterprise, while getting grid-tied, suffers from frequent energy disconnections due to the extreme drought that has plagued the Kariba dam, which stands for most of the country’s electrical energy production.
Economic terms for this initial project and following projects have however to be determined. Azelio will get some income from the initial project but the MoU is, as the second industrial statement of intent, mainly of strategic significance.
ND Energy, making use of Nordic technologies, offers modern day and properly tested power options to its shoppers in the Southern African area, such as organizations, industries, agricultures and communities. The business especially focuses on the provision of trusted off- and on-grid options, for electrical energy and/or hot water, primarily based on hybrids of solar PV, solar thermal, biomass and power storage. With a subsidiary in Zambia, ND Energy has the correct network and understanding of the regional power scenario to adequately navigate the market place in the area.
Each Azelio and ND Energy want to establish and extend their business enterprise supplying in the African market place, with the aim for ND Energy to turn into a single of Azelio’s regional sales, installation, operation and upkeep partners. In total, the MoU amongst Azelio and ND Energy covers a capacity of about 7.55 MWe of Azelio’s power storage, to be deployed in the African market place amongst 2021 and 2023.
“This is the second MoU that we sign in a quick time with a companion in the African market place exactly where several folks reside with no trusted access to electrical energy. Azelio’s power storage resolution can support men and women and societies prosper and develop by redefining energy and delivering sustainable power about the clock. This very first project in Zambia will demonstrate our resolution locally enabling each us and ND Energy to get the understanding and knowledge required for rolling out our resolution on a bigger scale,” says Azelio’s CEO Jonas Eklind.
“I am incredibly content to be capable to function with Azelio, to deliver a new and promising resolution to our shoppers in Southern Africa. ND Energy sees Azelio’s power storage unit as an fantastic resolution for off-grid shoppers. The capacity to deliver renewable power 24/7 will strengthen rural business enterprise prospective and challenge diesel as the only trusted off grid resolution,” says ND Power’s CEO Pär Oscarsson.
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This info is info that Azelio AB (publ) is obliged to make public pursuant to the EU Marketplace Abuse Regulation. The info was submitted for publication, by means of the agency of the make contact with particular person set out above, at 10:30 CEST on October 17, 2019.
Azelio is a public Swedish business, specializing in thermal power storage with dispatchable Stirling-primarily based electrical energy production when and exactly where it is required, modular and to a low price. The technologies is revolutionary for its special capacity to shop thermal power for production of electrical energy at nominal impact for 13h. The business has properly more than 100 staff, headquartered in Gothenburg with production facilities in Uddevalla and improvement centres in Gothenburg and Åmål in Sweden, as properly as international presence in China, Spain and Morocco. Because the get started in 2008, the business has invested more than a single billion SEK in technical improvement. In June 2018, the business changed its name from Cleanergy to Azelio and in December 2018 the business was listed on Nasdaq Stockholm Initially North. FNCA Sweden AB, +46()eight-528 00 399, [email protected], is Certified Adviser.
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