Energy storage
Siemens and AES establish joint venture
Siemens and AES Corporation establish Fluence, a joint venture offering large energy storage systems for grid stabilization.
With the combination of AES' Advancion and Siemens ' Siestorage energy storage platforms and a range of enhanced services, Fluence aims to offer customers a wide range of scalable, flexible and economical systems for the rapidly changing energy landscape.
Siemens and AES will each hold a 50% stake in Fluence, which has its global headquarters in Washington, DC (USA) and additional locations in Erlangen and other cities around the world. The transaction is expected to close in the fourth quarter of 2017, subject to regulatory and other approvals.
Fluence will operate independently from its parent companies, but will draw on the battery-based energy storage expertise within Siemens' Energy Management Division and the capabilities of AES Energy, a subsidiary of AES.
Siemens has extensive experience in microgrid and off-grid systems, renewable hybrid technologies, black start capability and customer load management.
AES contributes knowledge of utility-scale battery-based energy storage and offers around ten years of expertise in flexible peak capacity, ancillary services such as frequency regulation, reliable transmission and distribution, and renewable energy integration applications.
In total, the two companies are involved in 46 projects in 13 countries with a combined battery-based energy storage capacity of 455 MW. This includes the world's largest energy storage project based on lithium-ion batteries near San Diego, California (USA).
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