Fluence Moves to Support ‘Significant Capital’ Needs of Energy Storage

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Fluence Energy, the energy storage joint venture launched last year by Siemens and AES, said it will begin offering leasing and project finance options for energy storage projects.

“Siemens Financial Services (SFS) stands ready to provide significant capital to address the needs of the growing energy storage market through our program with Fluence,” Roland Chalons-Browne, CEO of SFS, said in a statement.

The financing options will address the disparate needs of new projects, such as those at commercial & industrial scale versus utility scale.The new financing program will offer customers options for qualified projects using Fluence’s energy storage platforms.

“Financing is often viewed as an obstacle; however by partnering with SFS, we are simplifying energy storage capital investments for many of our customers, allowing them to move their storage projects forward,” Stephen Coughlin, CEO of Fluence, said. 

Fluence said yesterday that it has received all government approvals and authorization for the joint venture, officially beginning business operations on Jan. 1.

Yesterday, Fluence also unveiled its SunFlex energy storage platform, which builds on the controls and architecture principles found in previous AES and Siemens storage products, Advancion and Siestorage.

“The Fluence team originally developed energy storage solutions to replace inefficient or underutilized traditional power infrastructure assets, such as power reserves, peaking, or wires,” John Zahurancik, COO of Fluence, said. “Today, as new power investment is flowing mainly into new solar generation, we have the chance to make this more efficient from the start. With our solution, we can get more solar energy from the same site and make the best use of our power networks.”

Lead image credit: CC0 Creative Commons | Pixabay

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