Siemens and US company AES Corp are to form a new global energy storage company called Fluence.

Each company will hold a 50 per cent stake in Fluence, which will be headquartered in Washington DC with another base in Erlangen, Germany and other offices worldwide.

AES has been in the energy storage business for 10 years and in a statement it said Fluence “will operate independently of its parent companies, combining the robust capabilities and expertise from Siemens’ battery-based energy storage solutions group under the Energy Management division with AES’ subsidiary, AES Energy Storage”. Siemens and AES form new energy storage company Fluence

The two companies have together deployed or been awarded 48 projects totalling 463 MW of battery-based energy storage in 13 countries, including the world’s largest lithium-ion battery-based energy storage project near San Diego, California.

“As the energy storage market expands, customers face the challenge of finding a trusted technology partner with an appropriate portfolio and a profound knowledge of the power sector,” said Ralf Christian, chief executive of Siemens’ Energy Management Division.

“Fluence will fill this major gap in the market. With the global reach of an experienced international sales force as well as Siemens’ leading technology platform Siestorage at its disposal, Fluence will be perfectly equipped to serve this very interesting market.”

AES president Andrés Gluski said: “Over the past ten years, AES has become a global leader in utility-scale, battery-based energy storage. Today AES’ Advancion platform is present in seven countries with more than 200 MW of energy storage deployed, including the largest installed system of its kind in the world.”

“Partnering with Siemens to form Fluence will offer both large and small customers the full gamut of proven, state-of-the-art energy storage solutions in over 160 countries. This will accelerate the integration of renewables into the energy network of tomorrow.”

According to analysts at IHS Markit, the grid-connected energy storage sector is expected to expand from the current total installed capacity of 3 GW to 28 GW by 2022.

“By incorporating energy storage across the electric power network, utilities and communities around the world will optimize their infrastructure investments, increase network flexibility and resiliency, and accelerate cost-effective integration of renewable electricity generation,” said a statement from Fluence.

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