Swedish energy storage firm Azelio has signed an MoU with Atria Power to collaborate on installing 65 MW capacity of energy storage capacity in India by 2025.
Swedish energy storage company Azelio and India’s Atria Power have signed a Memorandum of Understanding (MoU) to collaborate on installing over 65 MW capacity of Azelio’s energy storage capacity until 2025 in India. The agreement is Azelio’s first in the country, a market which it believes has significant potential for renewable energy solutions in off-grid areas.
“Atria is a rapidly growing and well renowned renewable power producer in India with the 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”, said Jonas Eklind CEO of Azelio.
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, the Indian firm will offer zero-emission electricity, potable water, and cooling for rural villages and communities in India.
Atria Power is an integrated energy solutions provider, evaluating energy efficiency, energy consumption and energy purchasing for its customers.
The MoU frameworks a collaboration over 65 MW until 2025, starting with small scale commercial installations of 100 kW in 2021, followed by installations of larger scale with an expected total of 12 MW in 2023, 18 MW in 2024 and 35 MW 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 Power, part of Atria Group, is a renewable energy power producer with operational renewable energy plants of 522 MW, of which 373 MW wind and 100 MW solar PV, and 350 MW under development. The company is financially backed by blue chip investors and partners including GE EFS APG and Piramal. It provides power purchase agreements (PPAs) for renowned high credit quality and blue-chip multi-national companies and domestic customers in different industrial and commercial sectors such as F&B, hospitality, real estate etc.