The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Fluence recruits SunPower CFO as CEO change becomes effective

LinkedIn
Twitter
Reddit
Facebook
Email

Global battery energy storage system integrator Fluence has revealed it is appointing a new CFO, direct from home solar and storage company SunPower, a day before its own CEO change becomes effective.

Fluence announced yesterday (31 August) that Manavendra (Manu) Sial will succeed Dennis Fehr as senior VP and CFO, effective mid-September. Mr Fehr will remain a non-executive employee until his departure from the company on 15 October 2022.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Fehr has been at Fluence since January 2018, before which he spent 12 years at Siemens, the large electronics conglomerate which founded Fluence as a joint venture with energy company AES Corporation.

Sial spent a little over four years as SunPower CFO. The home renewable energy systems firm’s own announcement about the move revealed that no permanent replacement for Dial has been lined up, but that the departure was “….not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including financial matters.” VP and treasurer Guthrie Dundas will serve as interim CFO.

As mentioned earlier, Fluence’s announcement comes just a day before its CEO change becomes effective. The company revealed at the start of August that its executive VP and president of US & Global Business Lines Julian Nebrada would replace incumbent  Manuel Pérez Dubuc, who had been at the helm since May 2020.

That announcement came a few weeks before Fluence revealed its weak third quarter results, with sales falling 14% and order intake falling 9%, although the firm is still reaffirming full-year guidance and most other financial metrics saw an improvement.

Commenting on the appointment of Sial, Nebreda said: “I’m extremely pleased to have Manu join Fluence as we continue our focus on growing our company and achieving profitability. Manu’s track record of success as a public company CFO, his outstanding financial leadership, and breadth of experience in clean energy will be an invaluable asset to our organization as we move into our next chapter.”

22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

Premium
July 11, 2024
Utility Southern California Edison is considering withholding liquidated damages from Ameresco after continued delays to 537.5MW/2,150MWh BESS portfolio.
July 10, 2024
Powin will supply 880MWh of its BESS technology for a project developed by US utility DTE Energy in Michigan, US.
July 10, 2024
PV manufacturer Canadian Solar will provide 705MWh of its BESS technology for three projects in Nova Scotia, Canada, and another 498MWh for a project in Texas, US.
Premium
July 9, 2024
Developer and IPP NextEra Energy Resources (NEER) is proposing to construct an up to 3GW standalone BESS across 260 acres of privately-owned land in Fresno County, California. 
Premium
July 8, 2024
The CEO of LG Energy Solution Vertech, Jaehong Park, speaks to Energy-Storage.news Premium for an exclusive interview.

Most Popular

Email Newsletter