Azelio Signs MoU With Atria Power for 65 MW in India

PVTIME - 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 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 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 Power is an integrated energy
solutions provider, evaluating energy efficiency, energy consumption and
energy purchasing for its customers. By combining investments in
technology with tailor-made service offerings, Atria Power offers services beyond those of a commodity supplier of renewable energy.

"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,"
 says Mr. 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",
says Jonas Eklind CEO of Azelio. 

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.

Azelio's unique storage technology can be coupled to solar PV, wind
power, or any other energy source, store the energy in recycled
aluminium and cost-efficiently supply renewable energy, as heat and
electricity, on demand around the clock.