The new merger, Fluence Energy, commenced business on January 1, 2018, and will supply the world’s largest storage project in Long Beach, California.
As reported previously, AES Energy Storage and the energy storage team from Siemens recently merged, creating Fluence Energy, LLC. The new company is jointly owned by Siemens and the AES Corporation, combining the engineering, product development, implementation and services capabilities of both teams. It is now embarking on an “aggressive expansion” of the business, backed by the financial support of the two parent organizations.
Fluence builds on more than a decade of grid-scale battery-based energy storage experience and the largest advanced battery-based energy storage fleet in the world with nearly 500 MW deployed or awarded across 15 countries.
The new company will be the supplier of the world’s largest lithium-ion battery-based storage project, a 100 MW/400 MWh (4-hour duration) installation that will be part of AES’ Alamitos power centre in Long Beach, California, serving Southern California Edison and the Western Los Angeles area.
A new and ongoing sales partnership will see the Siemens global sales force marketing and selling Fluence energy storage systems, including Siestorage, Advancion and the newest platform, SunFlex Energy Storage, intended for pairing with solar PV systems.
“We continue to believe in and deliver on the promise of energy storage to reduce costs, improve power systems, and create a more sustainable future” said Stephen Coughlin, president and CEO of Fluence. “With a team drawn from both Siemens and AES, we are fluent in the power sector and bring the capabilities, global reach and experience to make sure our customers achieve the full value of storage.”
The market for energy storage is accelerating with Bloomberg New Energy Finance projecting it to reach $100 billion by 2030. Fluence was launched with the aim of satisfying the needs of customers for industrial-grade storage solutions, power sector expertise and financial stability.
The company aims to deliver a comprehensive set of energy storage solutions and services globally. It will also provide full turn-key installation and support services in more than 160 countries, tailored to meet specific needs and conditions and a suite of financing packages through a new partnership with Siemens Financial Services, to include leasing and project finance options.
Alongside the 100 MW Alamitos contract, Fluence will support a number of other projects including 40 MW of new four-hour storage and 37.5 MW of existing four-hour storage for San Diego Gas & Electric, a microgrid project for Enel on the Mediterranean island of Ventotene, three projects for Arizona Public Service’s distribution grid in areas with high solar penetration, six energy storage projects being installed in Germany to provide frequency regulation for grid stabilization, and two 10 MW projects in the Dominican Republic for AES Dominicana.
Image: Fluence SIESTORAGE energy storage platform (Fluence)