- The 58 MWh battery-based energy storage system will store energy from the solar park when power demand is low and supply energy to the grid when demand is high
- This enables a better integration of renewable energy in the power system
- It will be the sixth Statkraft project in Europe where Fluence has contributed the battery energy storage system
ERLANGEN, Germany, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Fluence Energy GmbH, a subsidiary of Fluence Energy, Inc. (NASDAQ: FLNC) ("Fluence"), a global market leader delivering intelligent energy storage, operational services, and asset optimisation software, will supply and service a 58 MWh battery-based energy storage system to Statkraft for Germany's largest hybrid solar and storage project.
The project in Zerbst, Saxony-Anhalt, will include a 47-megawatt solar park combined with a 16-megawatt battery-based energy storage system. The plant will be the largest hybrid project in Germany, with enough capacity to save around 32,000 tonnes of CO2 emissions annually, according to Statkraft's calculations.
The project was awarded to Statkraft as part of Germany's Innovation Tenders. Organised by the Federal Network Agency, the tenders aim to accelerate the development of hybrid renewable assets to increase sustainability and efficiency across the energy system.
This will be the sixth time that Fluence provides battery technology to Statkraft, Europe's largest renewable energy producer. In addition to the latest project in Germany, the company is delivering and maintaining battery energy storage systems to Statkraft in the UK and Ireland.
Markus Meyer, Managing Director of Fluence Energy GmbH: "The increased focus on deploying renewable energy combined with storage assets is a great opportunity for Germany. Large-scale battery storage systems ensure energy security, limit curtailment, and are a forward-looking solution for the energy system. As a company with German roots and heritage, we are excited to work with our partners on transforming the way we power Germany for a more sustainable future."
Brian Perusse, Vice President Sales & Market Development, EMEA: "We are pleased to be selected again as Statkraft's partner in the delivery, operation, and servicing of high-quality energy storage systems. Building on our joint experience of delivering some of the most innovative projects in the UK and Ireland, we are excited to see Statkraft's latest contribution to the energy transition in Germany."
About Fluence:
Fluence is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. Our solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of successful implementations across nearly 50 markets, we are transforming the way we power our world for a more sustainable future.
Media contacts:
Fluence
Elisabeth Giesemann, Senior Associate Policy and Communication
Elisabeth.giesemann@fluenceenergy.com
+49 179 2070891
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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 outcome and operational performance and efficiency of the project and the battery energy storage system, anticipated impact of the project to the German energy system and the grid and energy price volatility, as well as anticipated impact of the project to CO2 emissions. 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 the project to not perform as anticipated, impacts to the project from geopolitical instability, extreme weather or changes in applicable regulations and policies in Germany or the European Union, failure to achieve the anticipated benefits and operational performance of the project, performance of Statkraft and the solar park separately from the battery energy storage system, and other factors set forth under Part I, Item 1A "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, Quarterly Reports on Form 10-Q, and in other filings we make with the U.S. Securities and Exchange Commission from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
