Bloomberg Law
Jan. 9, 2018, 12:50 PM

Siemens, AES Energy-Storage Collaboration Upbeat on NY Plan

Bobby Magill
Bobby Magill

New York’s plan to invest $200 million in energy storage could help boost demand for what new energy storage company Fluence, a creation of Siemens and AES Energy, sees as a growing market.

New York’s goal to build 1.5 gigawatts of energy storage by 2025, announced on Jan. 2, is part of its plan to generate half of its electricity with renewables by 2030, including enough power from offshore wind farms to power more than 1.2 million homes.

The state’s energy-storage target and regulatory support could be a blueprint for other states as they consider projects, said ...

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