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Fluence Eyes India as APAC Export Hub
23 Nov
Summary
- Fluence is exploring local manufacturing of battery storage components in India.
- The company views India as a potential export hub for Asia Pacific markets.
- India's energy storage capacity is projected to reach 411.4 GWh by 2031-32.
Fluence, a major global battery storage provider, is actively exploring localized manufacturing of key components within India. The company, backed by AES and Siemens, is assessing India's potential as an export hub for the wider Asia Pacific region, signaling a significant strategic move. While manufacturing plans are in their nascent stages, Fluence's commitment to India includes its substantial global innovation center in Bengaluru.
The company's interest in diversifying its manufacturing base, including India, stems from pandemic-induced supply chain disruptions. Fluence aims to enhance quality and ensure timely delivery by reducing reliance on single-region production. Discussions are underway with domestic partners to establish local production capabilities, complementing existing facilities in the US and Vietnam.
India's energy storage sector is poised for substantial growth, with projected needs of 82.37 GWh by FY27 and 411.4 GWh by 2031-32. Despite challenges, the trend of integrating energy storage with renewable projects and the government's PLI scheme are fostering development, making India an increasingly attractive market for global players like Fluence.
