MW Storage and Fluence deepen partnership to deliver their third energy storage project in Finland
MW Storage and Fluence Energy have announced their third battery-based energy storage project in Finland, a 20 MW / 20 MWh system near Mäntsälä in Uusimaa. This project aims to enhance grid stability and support lower electricity prices through energy trading. Fluence is set to build its fifth project for MW Storage, following prior collaborations in Finland, Germany, and Switzerland. Finland's goal to achieve carbon neutrality by 2035 and a 20% rise in electricity demand to 100 TWh by 2030 underscore the need for flexible, fast-responding energy storage solutions. The new project will contribute to this goal, adding to the 300 MW of grid-scale storage expected to be connected to the Finnish grid within two years. Both companies emphasize quality, safety, and technological advancement in their partnership.
- Fluence will deliver a new 20 MW / 20 MWh energy storage project in Finland, increasing grid stability and aiding in energy trading.
- This marks the fifth project Fluence has executed for MW Storage, showcasing strong, ongoing collaboration.
- Finland's rising electricity demand and carbon neutrality target by 2035 create a favorable market for energy storage solutions.
- No specific negative aspects identified in the announcement.
Insights
MW Storage and Fluence's ongoing collaboration is indicative of the growing importance of energy storage systems (ESS) in the European energy market, particularly as countries like Finland push towards carbon neutrality. Energy storage is key to balancing the intermittency of renewable energy sources like wind and solar power, thus stabilizing the grid and potentially lowering electricity prices in the long run. This project aligns well with Finland's carbon neutrality goals and its rising electricity demand, expected to grow by
From an investor's viewpoint, the choice of Fluence, a seasoned player in energy storage, suggests reliability and a high probability of timely project delivery. Although this initiative won't immediately impact Fluence's stock prices significantly, it does fortify its market position in the Nordic region, which could lead to long-term appreciation as the demand for such solutions escalates.
This collaboration between MW Storage and Fluence represents a solid investment in the rapidly growing renewable energy sector. The specifics of the project—
Financially, this project demonstrates Fluence's expanding footprint and recurring business, reflecting a positive outlook for its revenue streams. For MW Storage, it signifies a continued strategy of leveraging cutting-edge technology partners to enhance value for stakeholders. While individual retail investors may not see immediate returns, the long-term stability and growth potential in the renewable energy sector makes this an encouraging development.
From a technological perspective, partnering with Fluence underscores MW Storage’s commitment to incorporating advanced, reliable and safe energy storage systems. This is particularly relevant as energy storage technology is critical for integrating renewable energy into the grid. The ability to offer fast-responding ancillary services for grid stability reflects well on Fluence’s capabilities and its technological edge.
Additionally, Fluence's extensive experience, highlighted by its global operational history and several successful projects in the Nordic region, provides assurance of high-quality execution and system performance. For retail investors, this translates to a reduced risk profile for projects undertaken by Fluence, enhancing confidence in the company’s stock.
- The battery-based energy storage system is expected to increase grid stability by providing additional flexibility and support lower electricity prices through participation in energy trading.
- This will be the fifth project Fluence is delivering for MW Storage, with previous projects in Finland, Germany, and Switzerland.
AMSTERDAM, June 27, 2024 (GLOBE NEWSWIRE) -- MW Storage AG (MW Storage), a Swiss investment fund experienced in financing, developing, and operating energy storage systems, has selected Fluence Energy B.V. (Fluence), a subsidiary of Fluence Energy, Inc. (NASDAQ: FLNC) to deliver their third battery-based energy storage project in Finland. The 20 MW / 20 MWh project will be located in the south of the country, close to Mäntsälä in Uusimaa.
Finland is planning to achieve carbon neutrality by 2035. At the same time, Finland’s annual electricity demand is expected to increase by
Wilfried Karl, CEO at MW Storage, commented: “Our latest project in Finland builds on our experience of deploying and operating several of our earlier energy storage projects in Europe, with the focus on delivering maximum value to society, network operators and investors. Quality, safety, and technological advancement are our priority. For those reasons, we decided to partner with Fluence once again to together deliver a solution to the challenges of the energy transition in Finland.”
Brian Perusse, VP of Sales and Market Development EMEA, commented: “MW Storage has always been one of the frontrunners in the deployment of the latest storage technology. We are pleased to be again selected as their partner in the delivery, operation, and servicing of high-quality energy storage systems. With over five years of experience operating energy storage assets in Finland, and more than 16 years globally, Fluence is perfectly positioned to ensure long-term performance, safety and quick delivery of storage systems.”
The project marks Fluence’s fifth joint project with MW Storage after the announcement of the Wunsiedel megaproject in February in Germany and earlier collaborations in Switzerland and Finland. In the Nordic markets, Fluence has deployed or contracted seven projects to date, making it the key player in the region’s energy storage success story.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimization software for renewables and storage. With a presence in 47 markets globally, Fluence Energy, Inc. provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and AI-enabled optimization software for managing and optimizing renewables and storage from any provider. The Company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.
For more information, visit our website, or follow us on LinkedIn or Twitter. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog.
Media contacts:
Fluence
Joanna Spirodek, Senior Regional Marketing Manager, EMEA
Joanna.spirodek@fluenceenergy.com
+49 172 8662155
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FAQ
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