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Convergent Taps GE for Cal. Energy Storage Project (Ind. Report)
GE Renewable Energy,Comvergent Energy
Date: 2019-10-02
GE Renewable Energy reports is has been tapped by Convergent Energy + Power (Convergent) to supply battery energy storage systems for three California projects totaling 100MWh.The deal includes a long-term service agreement and augmentation guarantees.

GE's Reservoir platform is a flexible, compact energy storage solution that combines GE's advanced technologies and expertise in plant controls, power electronics, battery management systems and electrical balance of plant -- all backed by GE's performance guarantees.

With this California project, GE's largest in the U.S. to date, the company will reach a total of 495MWh in operations or construction in the battery energy storage space. (Source: GE Renewable Energy, PR, 25 Sept., 2019) Contact: GE Renewable Energy, www.ge.com/renewableenergy, www.linkedin.com/company/gerenewableenergy, www.twitter.com/GErenewables; Comvergent Energy & Power, Frank Genova, COO, CFO, www.convergentep.com

More Low-Carbon Energy News GE Renewable Energy,  Convergent,  Energy Storage,  Battery,  


ECP Snares Energy Storage Specialist Convergent (M&A)
Energy Capital Partners,Convergent
Date: 2019-07-12
Private equity firm Energy Capital Partners (ECP) and energy storage development business Convergent Energy + Power are reporting ECP's acquisition of New York-based Convergent.

Convergent develops, owns and operates large-scale energy storage for industrial customers and utilities. The company self-fund its projects, raising $70 million to do so. Convergent also took the title for largest commercial and industrial storage project, with a 10-megawatt/20-megawatt-hour system in Ontario, Canada.

ECP acquired Convergent as part of its Fund IV. The company has been investing in a range of energy companies, including gas generator Calpine and residential solar company Sunnova. Financial details of the acquisition have not been revealed. (Source: Energy Capital Partners , Website, 10 July, 2019) (Contact: Energy Capital Partners, Andrew Gilbert, info@ecpartners.com, www.ecpartners.com; Convergent, Johannes Rittershausen, (917) 508-0190, jrittershausen@convergentep.com, www.convergentep.com

More Low-Carbon Energy News Energy Capital Partners,  Convergent,  Energy Storage,  


Convergent, Shell JV Touts Energy Storage Projects (Ind. Report)
Convergent,Shell New Energies
Date: 2019-05-10
Toronto-headquartered independent energy storage specialist Convergent Energy + Power (Convergent) and Shell New Energies joint venture report they will install battery energy storage systems at two Shell Canada Products facilities in Ontario. The two firms also plan to collaborate on future projects for customers within and beyond Shell's affiliated portfolio.

Convergent is the largest operator of energy storage solutions in Ontario, with 26 MW in service. Shell Energies North America provides comprehensive power services to industrial customers throughout North America, including Ontario. Under the partnership agreement, Convergent's energy storage solutions will be offered to existing Shell Energy North America customers in Canada. (Source: Convergent, PR, 8 May, 2019) Contact: Convergent, Johannes Rittershausen, CEO, 917.508.0274, jrittershausen@convergentep.com, www.convergentep.com; Shell New Energies, Eric Bradley, GM, www.shell.com/newenergies

More Low-Carbon Energy News Convergent,  Energy Storage,  


Rockland Sells Flywheel Energy Storage Projects (Ind. Report, M&A)
Rockland Power Partners,Beacon Power
Date: 2018-05-07
In Houston, Bracewell LLP is reporting the sale of Rockland Power Partners LP's Flywheel Energy Storage Business to Convergent Spindle and RGA

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, info@convergentep.com, www.convergentep.com

More Low-Carbon Energy News Beacon Power,  Flywheel,  Energy Storage,  


Convergent Acquires Flywheel Energy Storage Projects (M&A)
Convergent Energy
Date: 2018-05-02
New York-headquartered energy storage specialist Convergent Energy + Power is reporting the acquisition of 40 MW of flywheel projects in Stephentown, NY and Hazle Township, PA. from Rockland Capital. Convergent will continue to operate the flywheels to meet evolving energy needs for PJM Interconnection and NYISO grid operators.

With this acquisition, Convergent Energy + Power is now the largest pure-play operator of energy storage in North America, according to the company release. (Source: Convergent Energy + Power, PR, May, 2018) Contact: Convergent Energy + Power, (917) 508-0190, info@convergentep.com, www.convergentep.com

More Low-Carbon Energy News Flywheel,  Energy Storage,  Convergent Energy ,  


Husky Installs 8.5MWh Commercial Energy Storage System (Ind. Report)
Convergent Energy & Power
Date: 2017-12-04
NYC-based Convergent Energy and Power reports it has installed a commercial and industrial (C&I) energy storage system for Husky Injection Molding Systems, Ontario. The system, which incorporates Lockheed Martin's 8.5MWh GridStar lithium batteries, cuts Husky's electric power costs by reducing the frequency of Husky's drawing electricity from the grid at peak times. The system is expected to reduce the company’s electric power costs by 15 pct to 30 pct per year beginning in early 2018.

Convergent installed the system on a "pay for performance" shared savings agreement whereby Convergent financed, built and manages the 8.5MWh project and shares the savings. (Source: Convergent Energy Energy Storage, 30 Nov., 2017) Contact: Convergent Energy, Johannes Ritterhausen , CEO, (917) 508-0190, www.convergentep.com; Husky Injection Molding Systems, www.husky.co

More Low-Carbon Energy News Convergent ,  Energy Storage,  Energy Efficiencye,  


Sault Ste. Marie Energy Storage Pilot Opening Soon (Ind. Report)
Ontario’s Independent Electricity System Operator
Date: 2017-07-21
New York-headquartered Convergent Energy + Power is reporting the launch of a 7-MW battery energy storage pilot project in Sault Ste. Marie, Ontario. The project is overseen by Ontario's Independent Electricity System Operator (IESO), which will pay Convergent to store and supply power.

Construction on the complex began in December. The facility is expected to be fully operational by mid August. The facility was built with engineering and construction support from the PUC, General Electric, Whitby Hydro, S&T Group, JB Excavators, SalDan Construction, STEM Engineering Group, WSP, and N-Sci Technologies. (Source: Convergent Energy + Power, Sootoday, 19 July, 2017) Contact: Convergent Energy + Power, Johannes Rittershausen, CEO, Robin Gray, VP Operations, (917) 508-0190, info@convergentep.com, www.ConvergentEP.com; Ontario IESO, John Cannella, (416) 506-2823, www.ieso.ca

More Low-Carbon Energy News Convergent Energy,  IESO,  Energy Storage ,  


SUSI Energy Storage Fund Seeking Institutional Investors (Int'l)
SUSI Partners
Date: 2017-04-07
In Zurich, investment management firm SUSI Partners is reporting its SUSI Energy Storage Fund has received €66 million ($70,4 million) in in funds from insurance companies, pension funds and other institutional investors. The fund is targeting €250 million in total and is already €14 million into its next round. Its investments will include micro-grids as well as assets providing load leveling and ancillary services to grids; in other words the fund is interested in both standalone non-grid connected projects as well as those that sit alongside existing infrastructure in the developed world.

In October, 2016, the fund invested in 2 storage projects and participated in financing 12MW of energy storage in Ontario, Canada -- a 5MW flywheel-based project and a 7MW lithium-ion battery system. Both of those projects are being executed by US developer Convergent Energy and Power.(Source: SUSI Energy Storage Fund, Energy Storage, SUSI Partners, 4 April, 2017) Contact: SUSI Partners, SUSI Energy Storage Fund, Dr. Tobias Reichmuth, CEO, +41 41 500 01 75, info@susi-partners.ch, www.susi-partners.ch

More Low-Carbon Energy News Energy Storage,  ,  

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