Fluence Energy which is a joint venture between AES Energy Storage and Siemens has been founded to deliver on the promise of energy storage to reduce costs, improve power systems, and create a more sustainable future.
Countries around the world are making a transition, from centralized power systems designed over a century ago to decentralized and renewable power that’s created closer to where it is needed. Coupled with aging infrastructure, communities around the world are facing significant challenges as they look to modernize their grids for the needs of the next century.
The market for energy storage is expanding, estimated by Bloomberg New Energy Finance to reach $100 million by 2030. However, in today’s fragmented energy storage market, choosing the right partner is critical to a project’s success.
The Fluence team brings over 10 years of experience designing, deploying, and operating complete energy storage solutions, and will deliver the stability, credibility, and intimate market knowledge that technology startups, battery suppliers, and consumer goods companies lack.
Currently the company is developing a 100 MW/400 MWh energy storage project at Long Beach, CA to replace aging natural gas peakers with a combination of more modern/efficient combined-cycle gas capacity and the world’s largest battery energy storage facility. This project is part of a $2 billion repowering project.
Construction of the huge energy storage installation also known as the Alamitos energy storage project, will start later this year and is targeted for completion by the end of 2020. This project is contracted under a 20-year power purchase agreement, and the Fluence array is designed to ensure the system meets the PPA requirements over the full life of the contract.
The rise of battery energy storage is in a scaling-up period , which is similar in scale to that experienced by the solar industry between 2000 and 2015. Utilities and other customers around the globe see that the technology is mature, and the Fluence team has delivered projects for all 8 core energy storage applications on the electric grid.