Convergent Energy + Power's Battery Storage System to Increase Electric Grid Reliability in Orange County

NEW YORK, Feb. 15, 2022 /PRNewswire/ -- Convergent Energy + Power (Convergent), a leading provider of battery storage solutions in North America, announced today that the two storage systems it financed and developed in Orange County, California are operational and will increase grid reliability for Southern California Edison (SCE) customers. Convergent will operate and maintain the 9 MW / 36 MWh and 6 MW / 24MWh Lithium-Ion battery energy storage systems at one of SCE's substations in Santa Ana, California using Convergent's energy storage intelligence, PEAK IQ®.

Convergent's energy storage systems are providing resource adequacy—or the ability of a utilities' supply to meet customer demand—to SCE. This, in turn, improves grid reliability and renewables integration. The battery storage systems address one of the challenges facing California's grid: the distance between where most of the energy is produced versus where it is consumed—in this case, the Los Angeles basin. Energy storage, the linchpin of the clean energy transition, is critical to helping California reach its ambitious renewable energy goal of net zero electricity emissions by 2045.

"Modernizing our electricity grid is critical to the future of energy and mitigating the climate crisis," said Convergent CEO Johannes Rittershausen. "Energy storage is essential to reducing our dependency on fossil fuels and Convergent is proud to continue demonstrating its value to customers and communities through innovative partners like SCE in strategic California locations at the forefront of change."

Convergent has over a decade of expertise financing, owning, and operating energy storage assets to accelerate the clean energy transition. Convergent's PEAK IQ® energy storage intelligence uses the latest artificial intelligence and machine learning technologies to ensure energy is stored and dispatched at the most strategic times. The company has over $400M invested in or committed to projects in operation or under development in 40 states and the Province of Ontario.

About Convergent Energy + Power
Convergent Energy + 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 $400M invested in or committed to projects in operation or under development in 40 states and the Province of Ontario. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.

SOURCE Convergent Energy + Power