• Diverse suite of financial solutions provide necessary capital to
  expand growing energy storage sector
• Granting customers access to a combination of proven, bankable
  energy storage solutions with tailored financing
• Leasing and project finance options for qualified projects using
  Fluence’s industry-leading trio of energy storage platforms

ISELIN, N.J.–(BUSINESS WIRE)–First bullet point after eighth paragraph should read: United States:
Through a project finance solution, SFS provided a portion of the senior
debt financing for a term loan (instead of United States: Through
a project finance solution, SFS committed a $50 million term loan).

The corrected release reads:

SIEMENS FINANCIAL SERVICES AND FLUENCE ANNOUNCE COMPREHENSIVE
FINANCING PROGRAM FOR ENERGY STORAGE CUSTOMERS WORLDWIDE

• Diverse suite of financial solutions provide necessary capital to
  expand growing energy storage sector
• Granting customers access to a combination of proven, bankable
  energy storage solutions with tailored financing
• Leasing and project finance options for qualified projects using
  Fluence’s industry-leading trio of energy storage platforms

Siemens Financial Services (SFS) and Fluence, a Siemens and AES company,
announce 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 industry-leading trio of energy storage
platforms. Fluence’s combination of unmatched energy storage experience,
proven technical solutions, and the availability of tailored financial
solutions will further drive down the total system costs of energy
storage and accelerate the growth of this dynamic segment of the power
market, estimated by Bloomberg New Energy Finance (BNEF) to be a $100
billion market opportunity by 2030.

“SFS stands ready to provide significant capital to address the needs of
the growing energy storage market through our program with Fluence,”
Roland Chalons-Browne, CEO, Siemens Financial Services commented.
“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 the most
comprehensive set of industrial-scale energy storage offerings in the
world 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,” commented
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.”

The financial services arm of engineering giant Siemens, SFS offers
suitable 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. With a global footprint, SFS is adept at leveraging its
expertise across a variety of markets to serve its customers with
tailored solutions.

The financing program with Fluence is unique in that it allows support
to a wide array of clients around the world – from commercial &
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,” commented 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.”

SFS has gained important experience serving the growing energy storage
market in several regions such as:

• United States: Through a project finance solution, SFS provided a
  portion of the senior debt financing for a term loan to support
  the construction of AES’s 100 megawatt (MW)/400MWh battery system in
  Southern California, which is tied to a new, 1,284 MW combined-cycle
  natural gas generator. The system will replace 1960’s-era power plants
  in Los Alamitos, Huntington Beach, and Redondo Beach.
• Germany: SFS established a program to provide packaged managed service
  solutions for municipalities eligible to participate in Germany’s
  Frequence reserve control market. The program includes projects in the
  range of five to eight MW peak power that use Siemens’ SIESTORAGE
  systems.
• United Kingdom: SFS in the United Kingdom recently announced an
  outcome-based finance model for purchases of Fluence’s Siestorage
  energy storage systems, which are available to users with on-site
  electricity demand profiles anywhere between 1MW and 100MW.

Learn more about Fluence and their custom financing solutions with SFS
for qualified energy storage projects at http://fluenceenergy.com.

For further information on Siemens’ Financial Services Division, please
visit www.siemens.com/finance.

Siemens Corporation Siemens Corporation is a U.S. subsidiary of
Siemens AG, a global powerhouse focusing on the areas of
electrification, automation and digitalization. One of the world’s
largest producers of energy-efficient, resource-saving technologies,
Siemens is a leading supplier of systems for power generation and
transmission as well as medical diagnosis. With approximately 372,000
employees in 190 countries, Siemens reported worldwide revenue of $92.0
billion in fiscal 2017. Siemens in the USA reported revenue of $23.3
billion, including $5.0 billion in exports, and employs approximately
50,000 people throughout all 50 states and Puerto Rico.

Fluence, a Siemens and AES company, is a global energy storage
technology solutions and services company that combines the agility of a
technology company with the expertise, vision, and financial backing of
two industry powerhouses. Established in 2018, as the successor to
industry pioneers AES Energy Storage and Siemens energy storage,
Fluence’s goal is to create a more sustainable future by transforming
the way we power our world. The company offers proven energy storage
technology solutions designed to address the diverse needs and
challenges of customers in a rapidly transforming energy landscape,
providing design, delivery and integration in over 160 countries.
Fluence works closely with customers during every step of their journey
and provides advisory, financing, and project lifecycle services. To
date, Fluence’s teams have deployed or been awarded a market-leading 56
projects with a total capacity of 485 MW in 15 countries. To learn more,
please visit http://fluenceenergy.com/
and follow Fluence on Twitter at @FluenceEnergy.

Contacts

Siemens Financial Services
Jillian Lukach, +1 732 512-7550
[email protected]
Follow
Siemens Financial Services on Twitter at www.twitter.com/siemens_press
or
Fluence
Steven
Goldman, +1 703 721-8673
[email protected]
Follow
Fluence on Twitter at @FluenceEnergy