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AES and Siemens Kick Off Fluence With Dedicated Financing, New Storage Platform for Solar PV, Massive Supply Contract

The newly formed venture is poised to snatch away Tesla’s biggest-battery trophy.

by Julian Spector, Greentech Media

The first storage supergroup has arrived.

Fluence, the new joint venture from major industry players Siemens and AES Energy Storage, kicked off operations at the start of the new year. The company is positioning itself as a global heavyweight system provider capable of tackling everything from commercial projects up to the rarefied "100 megawatt club."

"We’ve been one of the early leaders," COO John Zahurancik told GTM. "We’re planning to stay there as one of the leaders. We’re looking at things all over the world."

The pairing combines AES' decade of experience developing large utility-scale storage with Siemens' commercial expertise and global sales presence. The company announced a dedicated project financing program from Siemens Financial Services, which will simplify and shorten the timeline to finance upcoming projects.

That could prove to be a key differentiator in a young industry that still struggles with readily available financing.

The company also rolled out a new product optimized for the budding solar-plus-storage market.

Read more on Greentech Media.

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