Siemens AG and the AES Corporation have inked an agreement to form a new global energy storage technology and services company named Fluence. The joint venture will bring together AES' ten years of industry-defining experience deploying energy storage in seven countries with over a century of Siemens' energy technology and its global sales presence in more than 160 countries. Combining the proven AES Advancion and Siemens Siestorage energy storage platforms with expanded services, Fluence will offer customers a wider variety of options to meet the challenges of a rapidly transforming energy landscape. The company will empower customers around the world to better navigate the fragmented, but rapidly growing energy storage sector, and meet their pressing needs for scalable, flexible, and cost-competitive energy storage solutions.
Siemens and AES will have joint control of the company with each holding a 50 percent stake. Fluence's global headquarters will be located in the Washington, DC area with additional offices located in Erlangen, Germany and select cities worldwide.
Fluence will operate independently of its parent companies, combining the capabilities and expertise from Siemens' battery-based energy storage solutions group under the Energy Management division with AES' subsidiary, AES Energy Storage. Together, the two companies have deployed, or have been awarded, 48 projects totaling 463 MW of battery-based energy storage across 13 countries, including the world's largest lithium-ion battery-based energy storage project near San Diego, California.
The AES Advancion and Siemens Siestorage technology platforms each support a multitude of energy storage applications, together representing an industry-leading suite of choices for customers. Siemens brings its experience in microgrid and islanding applications, renewable hybrid technology, black-start capability, and consumer peak shaving, building on its intimate knowledge of customer power needs as a global original equipment manufacturer (OEM). AES brings its deep expertise in utility-scale battery-based energy storage solutions for flexible peaking capacity, ancillary services, such as frequency regulation, transmission and distribution reliability, and renewable integration applications dating back a decade and representing several of the largest energy storage installations in the world.
Keywords: Siemens, AES, Fluence, Energy Storage, Battery-based, ARC Advisory Group.