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Stock impact report

Macquarie, France's Engie to build Australian battery with Fluence [Reuters]

Fluence Energy, Inc. (FLNC) 
Company Research Source: Reuters
Fluence wins tender to supply its Gridstack system MELBOURNE, Dec 1 (Reuters) - Macquarie Group's (MQG.AX) green investment arm has teamed up with France's Engie SA (ENGIE.PA) and U.S. energy storage firm Fluence Energy (FLNC.O) to build an energy storage project in Australia, the companies said on Wednesday. The 150 megawatt (MW) battery, funded by energy group Engie and Macquarie's Green Investment Group, will be built at the site of Engie's now closed Hazelwood power station in Victoria, and will be built and run by Fluence over 20 years. The companies did not disclose the project's cost, but Engie Australia and New Zealand Chief Executive Augustin Honorat said it was less than A$1 million per megawatt, implying a cost of less than A$150 million ($107 million). The Hazelwood project will be able to store and deliver 150 megawatt-hours (MWh) of energy. Construction is already underway with the aim of switching on the battery by November next year, in time for the southern Show less Read more
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