Mentioned:
A clean energy giant has just cut a new deal with Fluence. But, why?
What’s happening:
- Fluence (NASDAQ: FLNC) has struck a new deal with independent power producer Avantus to provide their Smartstack energy storage solution for Avantus’ Rexford 2 solar-plus-storage project in Tulare County, California
Why it matters:
- Fluence’s Smartstack energy storage solution will provide a 200 megawatt, 4 hour battery storage system at Avantus’ Rexford 2 solar-plus-storage project
Going deeper:
- Fluence’s Smartstack energy storage solution is designed to store solar energy during the day and deliver it back to the grid when demand is highest
- Avantus and Fluence have both publicly stated that Fluence will also provide engineering, procurement and construction services for Avantus’ Rexford 2 solar-plus-storage project
The intrigue:
- Avantus has developed over 7 gigawatts of utility-scale solar projects that are currently operation or under construction and is controlled by private equity giant KKR
