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Siemens, AES JV launches financing plan for energy storage

Advancion 4. Photo by AES Energy Storage, All rights reserved.

January 12 (Renewables Now) - Siemens AG (ETR:SIE) on Thursday announced a comprehensive financing programme for customers interested in energy storage solutions by its joint venture with US power company AES Corp (NYSE: AES).

Siemens Financial Services (SFS), the financial services arm of the German engineering group, and Fluence Energy LLC, the joint venture, will offer leasing and project financing options to schemes using Fluence’s energy storage platforms.

Fluence is officially starting operations this month.

The financing programme will suit commercial and industrial clients and utilities and grid operators. It will offer "a wide array of capital solutions ranging from small-ticket leases to large-scale project financing and everything in between," according to Fluence CEO Stephen Coughlin.

"Providing customers access to market-leading energy storage technology and the capital needed to realize energy storage projects – regardless of size or region – is unique and will help the market grow exponentially," said SFS’ CEO Roland Chalons-Browne.

Siemens and AES set up Fluence in the summer of 2017, combining the AES Advancion and Siemens Siestorage energy storage platforms in a move which they said will provide customers with "an industry-leading suite of choices."

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Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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