Page 12 - AfrElec Week 27

AfrElec NEWS IN BRIEF AfrElec

Stewart, General Manager of ALEC Energy.
“Azelio is under way to establish in the
region through a verification project in Abu
Dhabi together with Masdar and Khalifa
University. We are now strengthening our
position further through joining hands with
a well-established company as ALEC Energy.
We foresee a successful establishment and
future in the region”, says Jonas Eklind CEO
of Azelio.
AZELIO

SOL AR

Energy Access Ventures
The closing date for responses to the is trying to reduce, he said. A number of
Camden, Komati, Grootvlei and Hendrina generation units have experienced unplanned provides seed funding for
RFIs was June 5 and Eskom has extended the breakdowns or have been delayed in returning
closing date for responses to the EoI to July to service, according to Eskom. Mali’s SolarX
23, partly to accommodate the disruption
caused by South Africa’s Covid-19 lockdown. SolarX has recently completed a Class A fund
raising organised by Energy Access Ventures
STORAGE (EAV), a seed investment fund. Based in Mali,
the solar energy provider wants to conquer
ALEC Energy, Azelio to The solar energy provider based in
ESKOM other markets in West Africa.
Eskom warns of power cuts install energy storage in Bamako, Mali, has just completed a Series A
financing. The deal was led by Energy Access
South Africa’s Eskom has warned that there Middle East, Africa Ventures (EAV), a seed investment fund that
is “high probability” of loadshedding as cold invests heavily in renewable energy in Africa.
winter weather arrives in the coming week, ALEC Energy and Swedish company Azelio No details have been provided on the funds
despite previous confident statement that has signed a Memorandum of Understanding raised in this financing round. However, the
outages would be minimal. (MoU) that covers a collaboration over investment is expected to enable SolarX to
Loadshedding is provisionally set for 49MW installed capacity of Azelio’s thermal expand its services in West Africa with the
evenings this weekend, Eskom said in a public energy storage until 2025. The projects are planned development of the solar market in
notice. focused to the Middle East and African Mali, Burkina Faso, and Côte d’Ivoire. In these
The utility in May predicted that only markets, where Alec Energy aims to expand countries, SolarX will finance and install solar
three days of supply interruptions would be its business offering as a renewable energy photovoltaic systems mainly for businesses.
necessary in the winter months that span from project developer and system integrator. “Because power generation in our target
June through August. ALEC Energy and Azelio reached an market comes from expensive, hard-to-get
The coronavirus pandemic provided agreement to expand its business offering, to and volatile fossil fuels, most companies
the utility with a brief respite from keeping supply electricity and heat to Commercial & are looking for cheaper, more reliable and
up with regular consumption as lockdown Industrial clients using Azelio’s long-duration cleaner energy. Despite market demand, it was
measures shuttered many businesses and thermal energy storage. difficult to attract financial partners before
offered it a chance to undertake much-needed The unique storage technology developed engaging with EAV,” said Karim Ghammache,
repairs. Eskom cut its forecast from 31 days of by the Swedish company can be coupled to founder and CEO of SolarX.
power cuts during winter to just three. solar PV, wind power, or any other energy The Energy Access Ventures (EAV)
When the utility presented an optimistic source, store the energy in recycled aluminum investment fund is sponsored by the French
outlook, Chief Operating Officer Jan and cost-efficiently supply renewable power, group Schneider Electric and managed by the
Oberholzer also said that its programme to as heat and electricity, on demand around venture capital firm Aster Capital based in
reduce unplanned plant breakdowns failed to the clock. The signed MoU frameworks a Paris, France. EAV is funded by a number of
meet targets. collaboration over 49MW until 2025, starting development partners including the European
While the cold front that’s forecast over with 150 kW in 2021, followed by 4MW in Investment Bank (EIB), the Investment
the weekend is set to raise demand, more 2022, 7MW in 2023, 13MW in 2024 and and Support Fund for Enterprise in Africa
businesses reopening could add to that and 25MW in 2025. (Fisea) owned by the French Development
increase the likelihood of deeper cuts, Eskom “We look forward to working with Agency (AFD) and managed by Proparco,
spokesman Sikonathi Mantshantsha said in an Azelio in a long-term partnership with the the French Global Environment Facility
interview on CapeTalk radio. opportunity to introduce this renewable (FGEF), administered by AFD, and the
The company will rely on diesel-fueled technology across the wider region and Commonwealth Development Corporation
turbines designed for peak use to stave off constructing upcoming innovative energy (CDC Group), the UK government’s
the cuts, which will increase costs the utility storage verification project”, highlights James development finance agency.

P12 www. NEWSBASE .com Week 27 09•July•2020