STOCKHOLM, Aug. 19, 2021 /PRNewswire/ -- Azelio has received a conditional order from Engazaat Development S.A.E. for 20 of Azelio's TES.POD® renewable energy storage units. The order is valued at approximately USD 1.5 million, and it is estimated that delivery will take place in December 2021. The order is conditional on, apart from customary project items, the ongoing techno-economic feasibility study for this specific project.
The TES.POD® units are intended to be financed, installed, and operated through a project company jointly owned by Azelio and Engazaat Development S.A.E., and be used in the SAVE sustainable agriculture project in Egypt. The 20 TES.POD® units have a combined storage capacity of 3.3 MWh of electricity production and will be part of a mini-grid system to supply farmers with renewable energy, thereby significantly lowering CO2 emissions, energy related costs, and dependency on diesel.
Egypt-based Engazaat Development S.A.E (Engazaat) specialises in development, implementation, and management of infrastructure systems in the water, technology, and renewable energy sectors. In its sustainable agro-village and entrepreneurship platform project SAVE, at the Moghra Oasis in Egypt, a mini-grid system is planned to supply farmers with 85% of their energy from renewable sources. For the project a conditional order has been placed for 20 of Azelio's TES.POD® energy storage units, subject to the conditions of an ongoing techno-economic feasibility study for the specific project. Based on an agreed commercial setup and obtained permits, Engazaat and Azelio will establish a joint project company to finance and carry out the installation and operation of the project.
Azelio's TES.POD® is a long-duration energy storage system that stores renewable energy in recycled aluminium and supplies electricity and heat on demand around the clock. For the SAVE project, Azelio's TES.POD® combined with solar PV have proven to be a better long-term storage solution than lithium-ion batteries. The 20 TES.POD® units - with an electric output of 260 kW and storage capacity of 3.3 MWh of electricity production - will reduce diesel consumption by 232 m3 annually, thereby cutting CO2 emissions by 603 tonnes per year.
"This conditional order is a significant milestone for Azelio. We are very proud to be part of Engazaat's sustainable agriculture initiative. We look forward to commencing a close and successful collaboration with Engazaat", says Jonas Eklind CEO of Azelio.
"Capitalizing on their superior energy storage technology we aspire with Azelio to launch a unique business model that has the potential to transform the livelihood of small farmers in the Egyptian Sahara Desert, the biggest sand ocean on the planet. Together we believe we will be able to decrypt the power supply formula necessary for water and food production sustainably both ecologically and economically", says Muhammad El Demerdash CEO Engazaat.
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