IHI, Inc. provides an energy storage system for Convergent to reduce Global Adjustment charges
(New York, NY) August 15, 2018 – Convergent Energy + Power (Convergent), the leading independent developer of energy storage solutions in North America, and IHI, Inc. announced today the launch of North America’s biggest behind-the-meter energy storage system, located in Sarnia, Ontario. The system, with hardware and software provided by the energy storage division of IHI, Inc. (IHI Energy Storage), is reducing Ontario’s Global Adjustment charge for an industrial customer by reducing the amount of grid electricity the facility consumes during grid peak periods. The 10 MW/20 MWh system has enough energy to run an electric bullet train for 500 miles. With this commissioning, Convergent is operating 26 MW of energy storage assets in Ontario alone and is the largest operator of energy storage in the Province.
Global Adjustment, which comprises up to 70% of the average industrial electricity bill in Ontario, incentivizes large electricity users to reduce their consumption during the most expensive grid periods. Convergent entered the Ontario market in 2014, becoming the first company to bring a Global Adjustment energy storage system online. Like Convergent’s other energy storage systems operating in Ontario, this system has already hit this summer’s peaks with no interruption to the customer. Convergent’s proprietary algorithm is 25% more accurate at peak prediction than public market forecasts and together with the battery system can save large commercial and industrial customers up to 40% on their electricity bills.
“This system combines cutting-edge technology and design with Convergent’s unparalleled peak dispatch services, creating maximum savings for our customer,” said Johannes Rittershausen, CEO of Convergent. “Commissioning the biggest behind-the-meter energy storage system in North America would not have been possible without a forward-thinking customer and the innovation of our supplier, IHI.”
Convergent contracted with IHI Energy Storage to provide operations and maintenance services and a capacity guarantee, in addition to the energy storage system. This project marks IHI Energy Storage’s entry into the Ontario market, with another 21 MW contracted in the region. IHI Energy Storage’s Ontario offering includes a neural-network based forecasting tool, ES/Forecaster.
“IHI Energy Storage is pleased to work with Convergent on this advanced energy storage system,” Toshiaki Nishio, Managing Director of IHI Energy Storage, commented. “We look forward to seeing the impact this project has on Ontario’s energy landscape and welcome the opportunity to leverage our software and systems to decrease customers’ Global Adjustment charges.”
About Convergent Energy + Power
Convergent Energy + Power (Convergent) is the leading independent developer of energy storage solutions in North America. Powered by results, Convergent manages all aspects of the energy storage asset development cycle to help customers navigate an increasingly expensive, decentralized, and renewable-driven energy landscape. Convergent deploys state-of-the-art technology to significantly lower commercial and industrial customers’ electricity bills and provide utilities with cost-effective grid solutions. With over 120 MWs and 240 MWhs of projects in operation, construction, or under contract, Convergent is also the largest independent operator of energy storage in North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.
About IHI Energy Storage
IHI Energy Storage is a Chicago-based subsidiary of IHI, Inc., New York, and provider of energy storage system solutions. As a systems integrator, IHI provides energy storage solutions for both front of the meter and behind the meter applications. IHI’s solutions include adaptive, real-time operation software, technology agnostic system designs, and autonomous operation capabilities, with support from its 160-year-old parent company, IHI Corporation, Tokyo.