wiredInUSA August 2017

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.

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wiredInUSA - August 2017

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