Fluence Energy, Inc. a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, and the Electricity Generating Authority of Thailand (EGAT), announced a memorandum of understanding to develop the battery-based energy storage market in Thailand. Fluence and EGAT aim to increase the deployment of energy storage to support the increased integration of renewables into the power grid and achieve Thailand’s clean energy targets.
Thailand’s existing oil and gas resources will deplete within the next decade. Facing rising energy demand coupled with increasing reliance on imported sources of energy, Thailand’s government raised the country’s non-hydro renewable target from 20 to 30 percent by 2036. With this rapid projected penetration of renewable energy into the energy mix, energy storage can play a key role in stabilizing and strengthening the future grid.
Fluence Energy, Inc. is a global market leader in energy storage products and services, and cloud-based software for renewables and storage. With a presence in over 40 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled SaaS products for managing and optimizing renewables and storage from any provider.
EGAT is a state-owned enterprise under the supervision of Ministry of Energy and Ministry of Finance. The principal mission of EGAT is electricity generation, electricity acquisition, and electricity sales to the Metropolitan Electricity Authority (MEA), the Provincial Electricity Authority (PEA), direct customers by law, and neighboring countries. EGAT is also responsible for other related businesses as stipulated by the EGAT Act.