Swedish energy storage company Azelio and India’s Atria Power has 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 the country, a market with significant 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.
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 12 MW in 2023, 18MW in 2024 and 35MW in 2025. Atria aims to expand its business offering in the Indian market as a project developer and system 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,” said 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,” added Jonas Eklind CEO of Azelio.