Fluence will deliver the AES Advancion and Siemens Siestorage energy storage systems, both based on lithium ion batteries, and develop new storage solutions and services.
The deal is expected to close by the end of the year, with headquarters in Washington DC and a sales office in Erlangen, Germany and selected other cities worldwide.
It will operate separately from both parent companies, combining Siemens' battery-based energy storage solutions group under the Energy Management division with AES Energy Storage. Together, the two companies have deployed or have been awarded 48 projects providing a total of 463 MW of battery-based energy storage across 13 countries, including the world's largest lithium-ion battery-based energy storage project by AES near San Diego, California.
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 leading 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.
"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. 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," said Ralf Christian, CEO of Siemens' Energy Management Division.
"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