Wednesday 11 October 2017

EU approves Siemens-AES energy storage joint venture

A joint venture between German engineering firm Siemens and US energy company AES to serve the energy storage market has been approved by the EU Commission.

Based in Washington, Fluence Energy will develop and market battery-based energy storage solutions.

The Commission said the deal would not raise any competition concerns because of the limited overlap between the companies’ activities.

AES and Siemens have together deployed or have been awarded 48 projects totalling 463MW of battery-based energy storage across 13 countries.