In June 2019, ECP acquired Convergent Energy and Power (“Convergent”), 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 has over $500M invested in or committed to solutions in operation or under development across North America and over 500 MW/800 MWh of storage and solar-plus-storage capacity operating or under development.
Convergent’s AI-powered energy storage intelligence, PEAK IQ®, makes data-driven decisions about when and how to charge and discharge energy storage systems for optimal value creation. Batteries do not generate power; batteries store power. As a result, knowing when to charge and discharge a battery storage system is critical. PEAK IQ® helps customers reduce and forecast their energy costs while decreasing their carbon footprints.
Energy storage is the linchpin of the clean energy transition and Convergent is developing a more sustainable, cost-effective, and reliable electric grid.