Fluence: Renew Power, flows into joint venture for energy storage – Times of India

New Delhi: The Nasdaqlisted Renew Power And FluenceOne of the largest players in the battery storage business, announced Thursday the establishment of a 50:50 joint venture to promote energy storage in country.
“The JV’s first customer will be ReNew for 150MWh BESS at its 300MW Peak Power Project site with SECI,” the companies said. Chairman and CEO of Renew Power Sumant Sinha Said that the pool of projects will be widened in the future, with India projected to reach 27GW/108GWh of the market by 2030. Central Electricity Authority, “The warehousing business will grow significantly as we need to balance it with production capacity,” Sinha said, adding that a major part of the business would be EPC-type, requiring lesser amount of capital.
He did not disclose the capital saying that will be determined by both the partners, depending on the orders they get.
He said that the storage would help in meeting the requirements due to imbalance during the day due to high generation through solar plants. Similarly, in the case of wind power, there are seasonal variations and storage for a longer period of a few weeks would be required. “For each, a different battery technology is needed,” he said. Founded in 2018 by AES, a global energy giant, and Siemens, Fluence has projects in 30 markets around the world; With experience in modular products and sophisticated software, it will help modernize the electric grid and accelerate local renewable deployment. does.
New Delhi
The joint venture is expected to commence operations in the first half of 2022 by providing solutions to MWh BESS of ReNew required for its 300MW peak power project in the state of Karnataka. In 2019, Fluence delivered India’s first battery-based energy storage project.