This industry-leading milestone marks a new era of scale in battery energy storage and underscores the critical role of storage in enabling the energy transition and reducing the cost of clean and reliable power
The global battery storage market is growing at rapid speed, with front-of-the-meter additions1 on track to hit approximately 158 GWh annually by 2030 according to the BloombergNEF 2H 2023 Energy Storage Market Outlook. The global transition from traditional power to renewable resources is driving the need for cost-effective and flexible assets like energy storage. As the need grows, so does the scale of projects and the role of energy storage as a key enabler of the clean energy transition.
“As the scale and complexity of battery storage projects continue to grow, few technology providers can deliver the breadth of solutions and experience needed to succeed in this rapidly evolving market. This milestone highlights the trusted role Fluence plays for our customers and partners around the world. Our industry-leading scale and proven success in delivering on the needs of our customers – including competitive products, seamless digital integration, supply chain diversity and security, and best in class reliability, is what sets us apart in this market,” said Fluence President and Chief Executive Officer
Fluence has partnered with customers to deploy some of the world’s largest and most complex energy storage systems. The global fleet of Fluence assets has nearly 3 million operating hours to date. Most recently, Fluence was selected by AGL Energy Limited (AGL) to deliver a 500 MW / 1000 MWh energy storage system for the
Leading the industry in developing new applications for energy storage, Fluence is shaping how power networks operate and addressing challenges of the energy transition. One of those challenges is increasing grid congestion caused by the massive expansion of renewable energy sources, bringing the need for more grid reinforcement and relief interventions. To address this challenge, Fluence is deploying three energy storage-as-transmission-asset projects for transmission system operators in
Fluence recently announced the release of Gridstack Pro, an advanced energy storage product built for the next era of utility-scale projects. Gridstack Pro is the latest offering in the Gridstack product line, which is trusted by leading power generators around the world to deliver safe and reliable grid services.
1Global market excluding projected utility-scale deployments in
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Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the anticipated impact of the global energy transition on energy storage, Fluence potential future impact on energy storage and the energy transition, and expected operational performance of Fluence energy storage projects, including impacts to related grid networks. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, unforeseen circumstances outside of Fluence’s control which may cause unanticipated operational performance of the Fluence energy storage projects, adoption of laws, regulations, or policies that impact the adoption of energy storage and the global energy transition, and other factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended
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