SIEGY - AES-Siemens energy storage JV wins $125M Qatar investment

AES Corp. ([[AES]] -2.4%) and Siemens ([[SIEGY]] +0.5%) say the Qatar Investment Authority has agreed to invest $125M for a minority stake in the companies' energy storage Fluence joint venture, which the deal values at more than $1B.Fluence says it will use the proceeds from the private placement to further accelerate development of its energy storage product offerings, particularly digital products, and deploy existing products in more markets globally."We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage," Fluence CEO Manuel Perez Dubuc says.AES and Siemens will remain major shareholders, each maintaining a ~44% stake.AES has a strong backlog of projects, and management forecasts high single-digit annual EPS growth over the next two years, Gen Alpha writes in a bullish analysis posted recently on

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AES-Siemens energy storage JV wins $125M Qatar investment