Utilities Middle East

Azelio signs 20 energy storage units deal in Egypt

The order from Engazaat is valued at approximat­ely $1.5mn, and it is estimated that delivery will take place in December 2021

-

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. Engazaat and Azelio will establish a joint project company to finance and carry out the installati­on and operation of the project.

15

 ?? ??

Newspapers in English

Newspapers from United Arab Emirates