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The project is one of the largest on the European continent and will increase the flexibility of the electricity system and support lower electricity prices for end users.
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The energy storage system has enough capacity to power approximately 60,000 German homes for two hours.
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Demand for energy storage in Germany is predicted to reach 23.7GW by 2037, and storage is expected to generate €12 billion in macroeconomic value by 2050.
Erlangen, Germany, February 14, 2024 (Globe Newswire) — MW Storage AG (MW Storage), a Swiss investment fund with experience in financing, developing and operating energy storage systems, has announced that Fluence Energy GmbH (Fluence )’s subsidiary was selected. Fluence Energy, Inc. (NASDAQ: FLNC) is delivering one of the largest battery-based energy storage projects in continental Europe. The 100 MW/200 MWh energy storage system will be installed in Arzberg in the Wunsiedel district, close to the German-Czech border. This project highlights the long-standing partnership between Fluence and MW Storage, which has previously delivered projects in Finland and Switzerland.
The German Federal Network Agency estimates that demand for large-scale battery storage will reach 23.7GW in 2037. This equates to 237 projects of the same size as those offered by MW Storage and Fluence. Furthermore, according to a recent study by Frontier Economics, by 2050, energy storage assets and the like will generate €12 billion in macroeconomic value and reduce carbon dioxide.2 By 2030, it will reduce emissions by up to 6.2 million tons and reduce electricity costs for end customers.
Wilfried Karl, CEO of MW Storage, commented: “At MW Storage, we are proud to play a key role in Germany’s energy transition. As an early adopter, we ensure that our projects deliver maximum value to investors, network operators, and society. By working with trusted partners like Fluence, we ensure that our projects deliver secure, advanced technology , we are bringing to market solutions to the challenges of the energy transition.”
Markus Meyer, Managing Director Germany and General Counsel EMEA at Fluence, commented: “Germany is an important market for Fluence and an important part of our future growth path. Fluence is the leader in the battery-based energy storage market in Germany. We are once again partnering with MW Storage, this time We are pleased to offer one of the largest commercially operated storage systems in the country. We have been actively investing in the German market and local technology development since our inception and will continue to do so to meet accelerating demand. I will continue.”
For Fluence, the Wunsiedel district project is another megaproject the company is currently developing in Germany. Fluence was recently awarded a contract for the delivery of a 450 MW energy storage system portfolio to a German transmission system operator.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services and optimization software for renewable energy and storage. With a presence in 47 markets around the world, Fluence supports the clean energy transition, including the Fluence IQ platform, which provides modular and scalable energy storage products, a comprehensive service offering, and an AI-enabled SaaS product for management and optimization. We provide an ecosystem of products that drive Renewable energy and storage from any provider. We want our customers to be more resilient,
Sustainable power grid.
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Media contact:
fluence
Joanna Spirodek, Senior Regional Marketing Manager, EMEA
Joanna.spirodek@fluenceenergy.com
+49 172 8662155
Forward-looking statements
Statements contained 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. is. These forward-looking statements include statements regarding the expected results, operational performance and efficiency of the storage system, including the power ratings, expected performance of Fluence Gridstack storage products, and the expected effectiveness of the 1995 Fluence storage system. This includes, but is not limited to, descriptions. German electricity transmission operators on network congestion, renewable energy penetration and security of supply. 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, terms such as “may,” “could,” “will,” “should,” “expected,” “plans,” “anticipated” Words such as “will”, “may”, “intend”, and “target” are synonymous with “plan,” “contemplate,” “believe,” “estimate,” and “predict.” , “may,” or “continue,” or the negative of these terms, or other similar expressions and variations thereof, and similar words and expressions, are intended to: Although we identify such forward-looking statements, the absence of such language does not mean that the statements are not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs regarding future developments, as well as a number of assumptions regarding future events and their potential impact 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 as expected. These forward-looking statements are subject to a number of risks, uncertainties and other risks that could cause actual results and performance to differ materially from those expressed or implied by these forward-looking statements. (some of which are beyond our control) or other assumptions. However, the project may not perform as expected due to unforeseen circumstances beyond Fluence’s control, geopolitical instability, extreme weather conditions, or changes in applicable regulations or policies in Germany or the European Union. impact on or including but not limited to: the inability to achieve the expected benefits and operating performance of the project, the inability to achieve the expected benefits of the energy storage system for the German transmission system operator, and Part I of the Company’s Annual Report on Form 10-K; , the factors described in Item 1A, “Risk Factors” for the fiscal year ending September 30, 2023, were filed with the Securities and Exchange Commission (“SEC”) on November 28, 2023, and the Company’s It is also included in other documents submitted from time to time. New risks and uncertainties emerge from time to time, and it is impossible to predict all such risk factors. We also cannot assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may have an impact on our business. Actual results may differ materially from those contained in the forward-looking statements. If one or more of these risks or uncertainties materialize, or if any of the assumptions prove incorrect, actual results may differ materially from those anticipated in these forward-looking statements. may differ in some respects. You are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and the Company uses forward-looking statements to reflect events or circumstances occurring or known to the Company after the date of this document. We undertake no obligation to publicly update or revise it. However, unless otherwise required by law.
