Year-end report: First commercial installation of TES.POD started in Dubai

Azelio won its first order for TES.POD® in December. The company thus reached a major milestone in the commercialisation of its energy storage system. The order is from ALEC Energy, which will install Azelio’s technology in one of the world’s largest solar parks, the Mohammed Bin Rashid Al Maktoum Solar Complex in Dubai, where it will be part of a mini-grid together with inter alia solar panels and batteries. This will provide renewable energy 24 hours a day, which is an important step in meeting the climate transition. Azelio began installation on site on 20 December. In the fourth quarter, Azelio also signed an MoU with JET Energy for energy storage of 45 MW in francophone Africa, and in January with SVEA Solar for 8 MW in Sweden. Accordingly, Azelio has signed MoUs for a total of more than 426 MW, corresponding to a storage capacity of 5.4 GWh, thus providing a solid base from which to build on ahead of the start of series production scheduled for Q3 2021.