Siemens Financial Services (SFS) and Fluence, a Siemens and AES company, announced a comprehensive financing program to support customers in their investments in energy storage solutions.

The new financing program will offer customers leasing and project finance options for qualified projects using Fluence’s trio of energy storage platforms.

“SFS stands ready to provide significant capital to address the needs of the growing energy storage market through our program with Fluence,” said Roland Chalons-Browne, CEO of Siemens Financial Services. “Providing customers access to market-leading energy storage technology and the capital needed to realize energy storage projects – regardless of size or region – is unique and will help the market grow exponentially.”

Starting operations this month, Fluence was created to deliver customized energy storage technology solutions and services required by customers and financial institutions. Fluence combines industrial-scale energy storage offerings with the track record, scale, global reach and backing of two large, established power-sector companies. With nearly 500 MW of energy storage projects deployed or contracted in 15 countries, Fluence has nearly twice the track record of any other company.

“With this SFS financing program, we can offer our customers a wide array of capital solutions ranging from small-ticket leases to large-scale project financing and everything in between,” said Stephen Coughlin, CEO of Fluence. “Financing is often viewed as an obstacle. However, by working with SFS, we are simplifying energy storage capital investments for many of our customers, allowing them to move their storage projects forward.”

SFS offers financing instruments across the capital spectrum, ranging from leasing and performance contracting to large-scale project finance and corporate finance, in addition to financial structuring and advisory support.

The financing program with Fluence allows support to commercial and industrial (C&I) energy users to utilities and grid operators, with customized financial solutions to help address their specific project challenges.

“C&I customers typically have smaller-scale projects and are looking for cash-neutral financing options, in which case equipment leasing or performance contracting solutions might work best,” said Jan Teichmann, vice president of global markets for Fluence. “For utilities and grid operators, their larger, more complex energy storage projects call for project finance in the form of a debt or an equity investment. Working with SFS, we can offer the full spectrum of capital solutions to meet needs as diverse as our customers.”