Fluence and ReNew to set up local joint venture to boost energy storage sector in India
GURGAON,
Founded by AES (a global energy company) and Siemens in 2018, Fluence has projects in 30 markets around the world. Its global experience, modular products and sophisticated software enable its customers to modernize electric grids and accelerate local renewable deployment while maintaining reliability.
Energy storage will be a key enabler to achieve
With these marquee projects, ReNew sees huge value in
The JV is expected to start operations in H1 2022.
Speaking about the partnership,
I expect it to set new milestones for the storage industry in
Manuel Pérez Dubuc, Fluence CEO, said, "Fluence is committed to accelerating
The JV will kick off by providing a solution to its first customer, ReNew, with 150 MWh BESS required for its 300
In 2019, Fluence delivered
About Fluence: Fluence is a global market leader in energy storage products and services and digital applications for renewables and storage. As of
For more information about Fluence, please visit: fluenceenergy.com
About ReNew: ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in
Forward-Looking Statements
The information in this press release includes a "forward-looking statement" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements, including, without limitation, expected timing for the formation of the partnership and the commencement of its operations, and the development and integration of the JV's products and technology in the Indian market.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside ReNew's and Fluence's control and are difficult to predict. Factors that may cause such differences in expected results include but are not limited to the following: Renew or Fluence may face significant barriers and delays in the formation and operations of the JV, including delays in obtaining any necessary regulatory approvals or failure to obtain such approvals at all. ReNew and Fluence caution that the foregoing list of factors is not exclusive.
Except as otherwise required by applicable law, ReNew or Fluence each disclaims any duty to update any forward-looking statements contained in this press release, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could differentiate materially from those expressed in any forward-looking statements.
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SOURCE
Fluence Press Enquiries: Adele Zhang, Adele.zhang@fluenceenergy.com, +61 406529688; Alison Mickey, Alison.mickey@fluenceenergy.com, +1 7037218818, ReNew Press Enquiries: Kamil Zaheer, Kamil.zaheer@renewpower.in, +91 9811538880; Fluence Investors, Samuel Chong, +1 872-301-2501, InvestorRelations@fluenceenergy.com, Lexington May, +1 713-909-5629, InvestorRelations@fluenceenergy.com; ReNew Investors, Nathan Judge, CFA, Anunay Shahi, Ir@renewpower.in