With over $1 billion committed, Convergent is a leading provider of energy storage solutions in North America
NEW YORK–(BUSINESS WIRE)–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.
This milestone represents Convergent’s success since its inception over a decade ago and the growing demand for energy storage worldwide. The energy storage and renewable energy sectors are designed to mitigate the impacts of climate change, advance the clean energy transition, and support the United States’ overextended, aging power infrastructure.
“The power grid is the single most expensive thing America has ever built and it is not prepared to meet this moment of crisis, as defined by increasing electrification, urbanization, and extreme weather events. Energy storage, especially when paired with solar, is the answer to many of today’s challenges,” said Convergent Energy and Power’s CEO and Co-Founder, Johannes Rittershausen. “We provide cheaper, cleaner, and more reliable energy to our partners, which include businesses and utilities. We are excited to offer solutions for our customers that also contribute to a better energy future and planet.”
Founded in 2011, Convergent is one of the original players in the energy storage sector and is committed to building an energy landscape that is less expensive, more reliable, and increasingly sustainable.
Energy storage is the linchpin of the clean energy transition. The more renewable energy on the grid, the better—but these resources only produce power when the sun is shining or the wind is blowing. Energy storage can “firm up” renewable resources, maximizing their value to the grid. In addition, energy storage can reduce the cost of electricity (storing energy when it is cheapest, dispatching it when it is most expensive) and enhance the reliability of our aging electric grid increasingly strained by climate change.
Convergent has been a trailblazer in identifying new applications and industry firsts for both energy storage and solar-plus-storage, including the first non-wires alternative for utility infrastructure in the United States and the largest (at the time) behind-the-meter battery energy storage system in North America.
About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn.
Contacts
Press
Kate Siskel
SVP, Marketing and Communications
Convergent Energy and Power
ksiskel@convergentep.com
917-508-0274
