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Siemens and AES Corp have formed a new
energy storage technology and services
company under the name Fluence. The
joint venture combines AES’s ten years of
experience in deploying energy storage
in seven countries, with Siemens’ energy
technology and global presence. Fluence
will combine the AES Advancion and Siemens
Siestorage energy storage platforms.
Siemens and AES will have joint control
of the company with each holding a 50
percent stake. Fluence’s headquarters will
be in Washington, DC, with additional offices
located in Erlangen, Germany, and other
cities worldwide. The transaction is expected
to close in the fourth quarter of 2017 subject
to regulatory and other approvals.
Fluence will operate independently of its
parent companies which, together, have
deployed or have been awarded 48 projects
totalling 463MW of battery-based energy
storage across 13 countries, including what
is currently the world’s largest lithium-ion
battery-based energy storage project, near
San Diego, California.
Business analyst IHS Markit predicts the grid-
connected energy storage sector will expand
from a total installed capacity of 3GW at the
end of 2016, to 28GW by 2022.
Extra storage
wiredInUSA - August 2017
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