Acquisition makes Convergent largest pure-play operator of energy storage in North America
New York, NY – May 1, 2018 — Today Convergent Energy + Power (Convergent), now the largest pure-play operator of energy storage in North America, announced the acquisition of 40 MW of flywheel projects in Stephentown, NY and Hazle Township, PA. Purchased from Rockland Capital, the flywheels have been providing stability services to the electrical grid since 2011 and 2014 respectively. more »
Convergent Completes Construction on First-of-Its-Kind Global Adjustment Charge Reduction Energy Storage Project for Husky Injection Molding Systems Ltd.
Bolton, Ontario – November 28, 2017 – Convergent Energy + Power, a developer of energy storage projects throughout North America, announced today that it had finished construction on a first-of-its-kind energy storage system. The project is designed to reduce Global Adjustment demand charges, which account for up to 70% of electricity bills for some customers in Ontario. The project is anticipated to reduce electricity cost on the load it addresses by 15-30% per year starting in 2018. more »
Sault Ste. Marie – July 19, 2017 – Convergent Energy + Power, a developer of energy storage projects throughout North America, announced today that it has finished construction on the first project under Ontario’s Independent Electricity System Operator (IESO) 2014 energy storage solicitation. Convergent’s energy storage installation is designed to increase the reliability and efficiency of the grid, specifically in the Sault Ste. Marie region. more »
Polenergia S.A. (“Polenergia”) Poland’s largest, private, vertically integrated energy group has chosen American company Convergent Energy + Power as a partner to develop and construct energy storage facilities in Europe. The cooperation includes the development, design, construction and exploitation of energy storage facilities in Germany, Switzerland, Austria, Italy and Poland. (See original press release here.) more »
Energy Storage Report spotlights Convergent’s growing pipeline as a pure-play energy storage asset developer (“Convergent Toasts Pure-play Developer model”). From the article: “New York, USA-based Convergent Energy and Power is seeing the fruits of sticking to a pure-play developer model after building a 75MW, 200MWh project pipeline. Johannes Rittershausen, Convergent’s CEO, told Energy Storage Report that behind this pipeline of projects in operation, being built or under contract there was ‘hundreds of megawatts … of deals we’re working on.’”
Read the full article here.
Companies to expand energy storage offerings for commercial and industrial electricity users
New York, NY – December 5, 2016 – Convergent Energy + Power, a market-leading energy storage asset developer, has received a strategic investment from Statoil Energy Ventures, one of the world’s largest corporate funds dedicated to renewable energy. Statoil joins a group of five other strategic investors committed to supporting Convergent in developing, financing, and operating cost-effective energy storage assets. more »
Company to extend energy storage offerings, reach new customers in the Midwest
NEW YORK, NY – Nov 15, 2016 – Convergent Energy + Power (“Convergent”), a market-leading energy storage asset developer, has received a strategic investment by GXP Investments (“GXPI”), the non-regulated affiliate of Great Plains Energy Incorporated, the holding company for one of the leading electric utilities in the Midwest. This investment will facilitate Convergent’s project pipeline growth in a rapidly expanding energy storage marketplace, and strengthen GXPI’s engagement with emerging technology companies.
See original release on Business Wire
PEABODY, MA – November 1, 2016 – Convergent Energy + Power, a developer, financier, and operator of cost-effective energy storage assets, has been awarded the Energy Innovation Award at the 2016 Risk Management Summit in Las Vegas, NV. Energi selected Convergent to receive the award due to their pipeline of energy storage assets throughout the United States and Canada that to date have utilized lithium-ion batteries, lead acid batteries, flywheels and next-generation storage technologies.
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.