AES-Siemens energy storage JV Fluence nets USD 125m Qatar commitment

30 December 2020 - 12:00 am UTC

Fluence, an energy storage joint venture backed by AES Corp. and Siemens, has entered into an agreement with the Qatar Investment Authority (QIA) for a USD 125m investment.

Fluence intends to use the net proceeds from the private placement to further accelerate development of its product offerings, particularly digital products, and deployment of existing products in more markets globally, according to a press release.

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