In the first transaction, Rockland Power Partners sold two 20 MW flywheel energy storage projects -- the Stephentown project located in Stephentown, New York and the Hazle project located in Hazle Township, Pennsylvania, to affiliates of Convergent Energy and Power, LP. The fully operating projects serve the New York Independent System Operator (NYISO) and PJM Interconnection grids.
In the second transaction, Rockland Power Partners sold all of the equity interests in Beacon Power, LLC, which operates a flywheel energy storage business and owns certain technology, intellectual property, patents and manufacturing equipment related thereto, to RGA Investments, LLC.
Both transactions closed on April 27, 2018. (Source: Bracewell LLP, PR, 4 May, 2018) Contact: Rockland Power Partners, Rockland Capital, (281) 863-9000, www.rocklandcapital.com; Beacon Power, www.beaconpower.com; Convergent Energy and Power, (917) 508-0190, email@example.com, www.convergentep.com
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