ReNew Power and energy storage firm Fluence on Thursday announced an agreement to form a new company to offer storage services across India.
The JV proposes to offer BESS solutions to varied customers in the Indian market, including EPC and asset management services. It is expected to start operations in the first half of the current year.
ReNew Power and Fluence’s 50:50 JV will cater to a market projected to reach 27GW/108GWh by2030, according to India’s Central Electricity Authority, from just a few MWh today, a joint statement issued by the two companies said.
Managed and operated by an independent management team and board, the JV aims to bring energy storage technology to Indian customers by localising and integrating Fluence’s energy storage products and packages in India, it said.
“India’s energy transition and its ambition to achieve net zero by 2070 calls for…