Azelio has signed a Memorandum of Understanding (MoU) with the Chilean company Industria Mecánica VOGT S.A. (VOGT) to assess energy storage projects for the mining industry in Latin America. The MoU frameworks a collaboration over a 10 MW capacity of Azelio's energy storage from 2021 until 2024. The parties expect to trigger further projects after this initial agreement.
Azelio's long-duration energy storage system coupled to solar PV will be used to supply VOGT's pumping systems for the mining industry with renewable electricity around the clock. The first projects are aiming for 50 kW in 1Q21 and 100 kW in 3Q21, followed by an additional 2 MW in 2022, 3 MW in 2023, and 5 MW in 2024.
VOGT is a regional supplier of pumping systems for the mining industry, with clients including some of the biggest metallic and non-metallic mining companies operating in Latin America. The pumping systems require electricity 24/7, currently provided by diesel generators in off-grid locations. With this MoU, VOGT seeks to complement its offer to supply the pumping systems with reliable and clean electricity. Aside from reducing the environmental impact, Azelio's technology will also significantly lower the electricity cost, linked to expensive diesel.
Furthermore, VOGT is interested in becoming Azelio's local partner in the Chilean market to co-develop projects and perform operations and maintenance related to Azelio's technology.
Read the article online at: https://www.globalminingreview.com/finance-business/21042020/azelio-signs-mou-with-partner-in-chile-for-energy-storage-supply-to-the-mining-industry/