Azelio reaches major milestone by winning its first commercial order from Dubai

The MBR Solar Complex is spread over a total area of 77 square kilometers in Dubai. Noor Energy 1, a company owned by Dubai Electricity & Water Authority (DEWA), ACWA Power and Silk Road Fund, is currently developing 950 MW of solar energy technology (phase IV) in the solar park. By 2030, the capacity in the MBR Solar Complex is planned to amount to 5,000 MW. The MBR Solar Complex is spread over a total area of 77 square kilometers inDubai. Noor Energy 1, a company owned by Dubai Electricity...

The MBR Solar Complex is spread over a total area of 77 square kilometers in Dubai. Noor Energy 1, a company owned by Dubai Electricity & Water Authority (DEWA), ACWA Power and Silk Road Fund, is currently developing 950 MW of solar energy technology (phase IV) in the solar park. By 2030, the capacity in the MBR Solar Complex is planned to amount to 5,000 MW.

The order for the storage unit has been placed to Azelio by ALEC Energy, who is the lead EPC contractor of the project.

"This is a major milestone for Azelio and we are thrilled to achieve it together with ALEC Energy. Being present in the world leading MBR Solar Complex allows us to showcase our solution to important audiences and demonstrate how our long-duration energy storage can make solar power available around the clock in an affordable way," says Azelio's CEO Jonas Eklind.

"Long-duration energy storage is a vital component in the transition from fossil to renewable energy and a key to provide clean and secure energy 24 hours a day. ALEC Energy is proud to pioneer Azelio's technology in this system," says ALEC Energy's General Manager James Stewart.

Azelio and ALEC Energy recently signed a Memorandum of Understanding covering 49 MW installed capacity of Azelio's storage units, starting with a smaller commercial project. ALEC Energy is also installing Azelio's verification project in Abu Dhabi together with Masdar and Khalifa University.

For further information, please contact

Jonas Eklind - CEO                                               Ralf Wiesenberg - VP Business Development
Email: [email protected]                           Email: [email protected]
Tel: +46 709 40 35 80                                           Tel: +34 699 30 86 36

This disclosure contains information that Azelio AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 9 December 2020 at 09:45 CET.

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