Convergent executes on storage projects using innovative project financing facility
New York, NY – October 31, 2016 – Convergent Energy and Power LP has announced the successful project financing of a portfolio of energy storage projects in Ontario, Canada, with SUSI Energy Storage Fund I and the facility lead, CJF Capital. The projects were awarded as part of the Ontario Independent Electricity System Operator’s (IESO) solicitation to demonstrate energy storage’s potential in the power grid. Convergent’s financed project portfolio includes a 5 MW flywheel and a 7 MW lithium-ion battery, both under contract with the IESO to provide fast-response grid support services for frequency regulation and voltage support.
Company to provide Southern California utility with location-targeted, flexible storage capacity to reinforce regional grid reliability
New York, NY – September 14, 2016 – Convergent Energy + Power, a market-leading energy storage asset developer, has contracted to deliver a 35-megawatt (MW), 140 megawatt-hour system to provide targeted electric capacity and other benefits to the California grid.
The project was approved by Southern California Edison (“SCE”) as part of SCE’s highly competitive Preferred Resources Pilot solicitation, an innovative program designed to meet local demand through clean energy resources. SCE has been a leader in recognizing the ability of energy storage to address multiple grid constraints and challenges in cleaner, more responsive and cost-effective ways.
Mississauga, Ontario (April 11, 2016) – Convergent Energy + Power and Temporal Power today announced the signing of an agreement for the installation of a 5 MW flywheel energy storage system in Ontario. Convergent was selected by the IESO through a competitive RFP process completed in 2014. “Convergent is excited to be working with Temporal Power and the IESO on this important project to help the province of Ontario advance their progressive energy objectives,” said Frank Genova, COO of Convergent Energy + Power.
Forbes highlights Convergent’s recent 10 MW PG&E award and explores the quickly-evolving energy storage space (“Lithium-Ion Is Not The Only Battery Game In Town: Eos And Convergent Nab Ten Megawatts In PGE Award”). As Convergent CEO Johannes Rittershausen notes: “There are deals being done cost-effectively with today’s technology, solving real problems for real customers. From the customer’s perspective, Convergent can solve peak capacity or reliability constraints given 6-9 months of lead time [while] managing and assuming most of the execution and operating risk. Storage is a prime time set of solutions now.”
NEW YORK, Business Wire (December 3, 2015) – Convergent Energy + Power, a market-leading energy storage asset developer, has announced a 10 MW, 40 MW-hour project award from Pacific Gas and Electric Company (“PG&E”). This project was selected as part of the first round of PG&E’s highly competitive Energy Storage Request For Offers solicitation, with results announced December 2, 2015.
DALLAS, The Associated Press (May 27, 2015) – GE’s (NYSE:GE) renewable energy business today announced it will supply Convergent Energy + Power with a 7 megawatt (MW)-7 megawatt hour battery energy storage system for the Ontario Independent Electricity System Operator (IESO). The complete solution features GE’s Mark* VI plant control system with SCADA, Brilliance* MW Inverters, packaged lithium ion battery modules, medium-voltage transformers and switchgear integration.
Cutting-Edge Clean Technology Solution Will Reduce Summer Electricity Demand, Improve Reliability, and Save Over 80% Versus Comparable Transmission Line Upgrade
NEW YORK, NY (May 5, 2015) – Convergent Energy + Power, an integrated energy storage asset developer, has announced the completion and commissioning of a 3 MWh energy storage system in Boothbay, Maine. This is the first of many projects Convergent anticipates deploying in the New England region, and it represents a significant step forward in the transformation of Maine’s electricity infrastructure.