Published by Todd Bush on February 14, 2024
ERLANGEN, Germany, Feb. 14, 2024 (GLOBE NEWSWIRE) -- MW Storage AG (MW Storage), a Swiss investment fund experienced in financing, developing and operating energy storage systems, has selected Fluence Energy GmbH (Fluence), a subsidiary of Fluence Energy, Inc. (NASDAQ: FLNC) to deliver one of the largest battery-based energy storage projects in continental Europe. The 100 MW/ 200 MWh storage system will be located in Arzberg, Wunsiedel district, near the German – Czech border. The project underlines the long-standing partnership between Fluence and MW Storage that previously has delivered projects in Finland and Switzerland.
>> In Other News: Plug Announces Strategic Expense Reduction Plan to Save More Than $75 Million Annually
The German Federal Network Agency estimates the demand for large-scale battery storage will reach 23.7GW in 2037, which corresponds to 237 projects of the same size as the one to be delivered by MW Storage and Fluence. Additionally, according to a recent study by Frontier Economics, by 2050, energy storage assets will, among others, generate €12 billion in macro-economic value, reduce CO2 emissions by up to 6.2 million tonnes in 2030, and lower electricity costs for end customers.
Wilfried Karl, CEO at MW Storage, commented: “At MW Storage, we are proud to play a key role in the German energy transition. As the early adopters of storage systems and solutions with knowledge and experience in planning, funding, and operating them across Europe, we ensure the projects deliver maximum value to investors, network operators, and society. By working with trusted partners, such as Fluence, we are bringing to the market a safe and highly advanced technology – a solution to the challenges of the energy transition.”
Markus Meyer, Managing Director Germany & General Counsel EMEA at Fluence, commented: “Germany has been an important market to Fluence and is a critical part of our future growth path. Fluence is the market leader for battery-based energy storage in Germany. We are pleased to again partner with MW Storage, this time delivering one of the largest commercially operated storage system in the country. We have actively invested in the German market and local technology development since its earliest day and will continue doing so to meet the accelerating demand.”
For Fluence, the project in the Wunsiedel district is another megaproject the company is currently deploying in Germany. Recently, Fluence was awarded the delivery of a 450 MW portfolio of storage systems for German transmission system operators.
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimization software for renewables and storage. With a presence in 47 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled SaaS products for managing and optimizing renewables and storage from any provider. The Company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🌍 HIF Global Signs Collaboration Agreement with Airbus for Sustainable Aviation Fuels 🔋 Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi 🚧 After Year...
I've been monitoring the climatetech and decarbonization startups this year, and here’s what I learned. International Energy Agency (IEA) expects global clean energy investment to hit $2 trillion ...
Inside this Issue 🌱 FuelPositive: Completes On-Farm Commissioning of the First Scalable Green Ammonia Production System and Announces New Manitoba-Based Partnerships 🌍 A New Era for Clean Energy: ...
Siemens Energy Wins Contract for Large-scale Hydrogen Project From German Utility EWE
[**Siemens Energy**](https://www.siemens-energy.com/) **has been awarded a contract to supply a 280-megawatt electrolysis system by German utility EWE. The plant in the German city of Emden is expe...
Shell to Build 100-megawatt Renewable Hydrogen Electrolyser in Germany
COLOGNE/WESSELING, GERMANY – [Shell Deutschland GmbH](https://www.shell.de) (**Shell**) has taken a Final Investment Decision (FID) to progress REFHYNE II, a 100-megawatt renewable proton-exchange ...
After Years of Controversy, Illinois State Pauses CO2 Pipeline Construction, for Now
**New safety requirements for carbon dioxide pipelines as well as a temporary ban on their construction are now in effect after Gov. JB Pritzker on Thursday signed a bill that passed the General As...
Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi
* We’ll remove up to 500,000 metric tons of CO2 annually from CF Industries’ site in Yazoo City. * It’s the latest sign of our leadership in CCS, a proven emissions solution. * ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.