AES and Siemens' joint energy storage venture is valued at a little over $1bn in the Qatar Investment Authority-funded transaction.

The state-owned Qatar Investment Authority (QIA) agreed yesterday to invest $125m in Fluence, a Germany-based energy storage joint venture between power producer AES Corporation and industrial technology and appliance manufacturer Siemens. QIA’s investment will value Fluence at just over $1bn, with AES and Siemens each retaining a stake of approximately 44% in the company. Founded…

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