Azelio gets order for 20 energy storage units in Egypt

Swedish energy storage company Azelio AB (FRA:4AZ) has received an order to deliver 20 of its renewable energy storage units with a combined capacity of 3.3 MWh to Egypt-based project developer Engazaat Development SAE.

The order is worth a total of USD 1.5 million (EUR 1.28m) and is conditional on the results of an ongoing feasibility study, Azelio said on Thursday.

The TES.POD units will be delivered in December 2021 and will be used for a mini-grid system as part of the SAVE sustainable agriculture initiative which aims to cover 85% of the needs of farmers in the Moghra Oasis in Egypt with renewable power. The storage units in the system will lower diesel consumption by 232 cubic metres (61,288 gal) annually and cut CO2 emissions by 603 tonnes per year.

For that particular project, Azelio's units combined with solar PV have proven to be a better storage option in the long term than lithium-ion batteries, the Swedish company said.

Under the deal, Azelio and Engazaat will establish a joint company that will be responsible for the financing, installation and operation of the units.

(USD 1 = EUR 0.853)

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