SIEMENS and AES Corporation have set up a new global joint venture, Fluence, to offer energy storage technology and services.
For the past ten years, AES has developed and installed its Advancion modular energy storage system, and can provide from 2–50 MW of electricity. Siemens technology, Siestorage, is also modular, and can both store and consume power to help stabilise energy grids due to fluctuations in renewable energy generation. It can provide power from the kW to MW scale. Both systems are based on lithium ion technology. Between them, Siemens and AES have 48 energy storage projects with 463 MW of battery storage in 13 countries.
Modular energy storage systems can provide tailored power for industrial applications or to an electricity grid. The energy storage sector is rapidly growing as customers seek scalable, flexible and cost-effective energy solutions and Fluence seeks to exploit this market in over 160 countries. Information Services firm IHS Markit expects the grid-connect energy storage sector to rise from 3 GW at the end of 2016, to 28 GW by the end of 2022.
“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.
The joint venture will bring together both companies’ extensive expertise in energy storage. Amongst other things, Siemens has experience of microgrids, renewable hybrid technology and equipment manufacture, while AES’ expertise includes utility-scale battery-based energy storage solutions for flexible peaking capacity, transmission reliability and renewable integration applications.
The joint venture will be split 50:50 between the two companies and is expected to be finalised by the end of the year.
Catch up on the latest news, views and jobs from The Chemical Engineer. Below are the four latest issues. View a wider selection of the archive from within the Magazine section of this site.