Update about the project with Engazaat in Egypt
Azelio announced on August 19, 2021, a conditional order for 20 energy storage units from Engazaat Development S.A.E (Engazaat) in Egypt. Important steps now have been taken towards the fulfilment of the conditions tied to the order. The intention is to establish a joint project company to finance and carry out the installation and operation of the project. A techno-economic feasibility study for the specific project has been performed with satisfactory results. Today Engazaat signed a financing agreement securing the financing for their part of the project. Azelio is