ReNew Power, Fluence to form energy storage joint venture

The joint venture is expected to start operations in the first half of 2022.

ReNew Power and energy storage provider firm Fluence has signed an agreement to enter a joint venture that will address India’s energy storage market needs.

In a statement, ReNew said the 50:50 joint venture is expected to start operations in the first half of the year.

ReNew will be the first customer of the joint venture and will be provided with a 150 megawatt-hour (MWh) battery energy storage system (BESS) required for its 300 MW Peak Power Project in Karnataka state with the Solar Energy Corporation of India Limited.

"India's energy transition and its ambition to achieve net zero by 2070 calls for strong and rapid storage integration with the grid. We're delighted to partner with Fluence, a global market leader in energy storage products and services, to bring localized solutions for India,” ReNew Power CEO Sumant Sinha said.

Fluence CEO Manuel Pérez Dubuc said the company is committed to accelerate India’s energy transition and will support the countries climate goals in a “capital-efficient manner by localizing our products to align with specific market needs, making our patented technologies and designs available to the joint venture and increasing the made-in-India content over time.”

India’s energy storage market is expected to reach 27-gigawatt (GW)/108GW-hour by 2030, ReNew said, citing the India’s Central Electricity Authority.

It added that it will also be critical for India’s target to reach 450GW of renewable capacity addition by 2030.

Follow the links for more news on

Fluence

ReNew Power

ReNew-Fluence joint venture

Also Read

Eku Energy to develop its 1st BESS project in Japan

Alinta Energy and JERA Nex collaborate on Spinifex Offshore Wind Farm development

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit