• 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 20% from the current level to 100 TWh in 2030. The corresponding ramp up of renewable generation will require the flexibility best provided by energy storage. To better integrate intermittent renewable generation, energy storage provides flexibility and fast-responding ancillary services critical for grid stability. In the next two years, 300 MW of grid-scale storage is expected to be connected to the Finnish grid, according to LCP Delta.

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.

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Media contacts:
Fluence
Joanna Spirodek, Senior Regional Marketing Manager, EMEA
Joanna.spirodek@fluenceenergy.com
+49 172 8662155

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