India is one of the largest potential markets for Swedish companies within renewable energy. Azelio's long-duration energy storage has already received positive attention in India for its suitable technology based on domestic demand and conditions. Since 2020, Azelio has a MoU signed with Atria Power in India for energy storage with supply of electricity and heat.
Indonesia has ambitious targets of 23 % renewable energy composition by 2025 with a total carbon emission reduction of 19 %. With a current heavy reliance on fossil fuel and a large number of off-grid communities, the market has a big potential for renewable energy solutions and its decentralized conditions give rise to a specific potential for renewable energy storage.
"India and Indonesia are markets with big potential and where Azelio's energy storage can make a positive difference. We are pleased to have been accepted into these Accelerator programs and look forward to increasing our market presence together with the Swedish Energy Agency and Business Sweden", says Jonas Eklind, CEO of Azelio.