Articles from Convergent Energy and Power

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the closing of its $584.5 million guaranteed loan facility from the U.S. Department of Energy (DOE) Loan Programs Office (LPO) to build a solar photovoltaic (PV) system with an integrated battery storage system and three stand-alone battery storage systems across Puerto Rico. Convergent’s solar PV and battery storage systems will play a vital role in improving Puerto Rico’s energy resilience and affordability while helping Puerto Rico meet its ambitious clean energy and climate goals.

Potomac Edison, a subsidiary of FirstEnergy Corp., and Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the completion of a 1.75 MW / 8.4 MWh battery storage system in Little Orleans, Maryland, to enhance grid reliability for over 600 Potomac Edison customers. The battery energy storage system integrator is ELM MicroGrid.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that the Company has received a conditional commitment from the U.S. Department of Energy Loan Programs Office (LPO) for a loan guarantee of up to $559.4 million for its subsidiaries to build a solar photovoltaic (PV) system with an integrated battery storage system and three stand-alone battery storage systems across Puerto Rico. These systems are expected to enhance Puerto Rico’s grid resilience, reduce the need for fossil fuel generation, and lower energy costs.

Convergent Energy and Power (Convergent), a leading provider of distributed energy storage solutions in North America, today announced that it has closed a programmatic construction-to-term loan, tax equity bridge loan, and letter of credit facility with Mitsubishi UFJ Financial Group (MUFG). The funding will provide capital for Convergent to accelerate construction of its energy storage and solar PV portfolio across North America.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that it has closed a programmatic tax equity financing deal with East West Bank. The funding will be used for Convergent’s New York and Maryland energy storage portfolios, which can provide more cost-effective, reliable, and sustainable electricity to over 8,000 customers. The deal, originated by Greenprint Capital, also supports Convergent’s broader 2025 portfolio across North America.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that its PEAK IQ® energy storage intelligence was named “Top Software + Cloud Product” by the 2024 Environment+Energy Leader Awards program. The program spotlights exceptional achievements in sustainability, energy efficiency, and social responsibility by businesses leading the way in environmental and energy innovation.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the publication of its 2023 Sustainability and Impact Report. In its third annual report, Convergent shared how it integrates Environmental, Social, and Governance (ESG) performance into its overall success metrics and detailed the steps the company is taking to mitigate the impact of the climate crisis.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, announced today that it has over 800 MW / 1 GWh of energy storage and solar-plus-storage systems operating or under development, which is equivalent to the power consumed by approximately 750,000 homes. Convergent has over $1bn invested in or committed to systems in operation or under development.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions across North America, today announced the appointment of Donald J. Jenkins as Chief Operating Officer. Jenkins will be responsible for scaling the business while maintaining and enhancing daily operations.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, announced today its plans to provide Massachusetts’s municipally-owned utility company West Boylston Municipal Light Plant (WBMLP) with a battery storage system; the system is expected to stabilize costs for its customers and further insulate against rising energy costs. Convergent will finance, own, and operate the 3MW/9MWh utility-scale battery storage system for WBMLP, leveraging its proprietary energy storage intelligence, PEAK IQ®. The system is projected to come online in 2024.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, and Alectra Energy Solutions, a trusted provider of innovative, turnkey energy solutions, are pleased to confirm that their joint venture was recently selected by Ontario’s Independent Electricity System Operator (IESO) to build and operate three battery energy storage systems.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, has been named to Inc. Magazine’s annual Best Workplaces list. Featured in the May/June 2023 issue, which hits newsstands on May 16, 2023, and prominently featured on Inc.com, the list is the result of a comprehensive measurement of American companies that have excelled in creating exceptional workplaces and company culture.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced it was named the winner of The Cleanie Awards®’ 2022 Project of the Year for its non-wires alternative with utility National Grid. Convergent was recognized for its development of one of the first known solar-plus-storage systems providing a non-wires alternative, located in Central New York. The category winner was determined by a public vote in which Convergent and National Grid received more than 200,000 votes.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the appointment of the former commissioner and chairman of the Federal Energy Regulatory Commission (FERC), Neil Chatterjee, to the company’s Board of Directors.

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the publication of its 2022 Sustainability and Impact Report. The report details Convergent’s strong progress toward advancing the clean energy transition through its Environmental, Social, and Governance (ESG) work and its goals for 2023—the first year in history with a federal Investment Tax Credit (ITC) for stand-alone energy storage following the passage of the Inflation Reduction Act (IRA).

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that it has been named a finalist for the 24th Annual Platts Global Energy Awards in the “Infrastructure Project of the Year” category.

The same lithium-ion battery technology propelling electric vehicles is being used to cost-effectively power a portion of the Ford Motor Company’s (Ford) Essex Engine Plant in Windsor, Ontario during peak power consumption periods. Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, was chosen to help support Ford’s power needs at the plant with a 4 MW / 8MWh battery energy storage system (BESS), which is currently in operation.