NEW YORK, Jan. 14, 2021 /PRNewswire/ -- Convergent Energy + Power (Convergent), a leading provider of battery storage solutions in North America, announced this week that the storage system it financed and developed outside Lemoore, California is operational and will increase grid reliability for the Alameda County area through its partnership with East Bay Community Energy (EBCE). Convergent has over a decade of expertise financing, owning, and operating energy storage assets, both commercial/industrial- and utility-scale. Through this partnership, Convergent will maintain the 10 MW / 40 MWh Lithium-Ion battery energy storage system and EBCE will control it.
EBCE is a community choice aggregator located in Alameda County whose board voted to be carbon-free by 2030—15 years ahead of California's goal of net zero electricity emissions by 2045. EBCE, like other community choice aggregators, purchases power with a higher mix of renewables than the local utility, and provides lower rates. This is the first energy storage asset to come online for EBCE.
Energy storage is the linchpin of the clean energy transition and critical to helping California reach its ambitious renewable energy targets. Energy storage reduces dependency on peaker plants by injecting power back onto the grid when it is most needed. Energy storage also firms up renewable assets like solar, storing solar energy when there is a surplus and dispatching when the sun is not shining. The integration of renewables is particularly relevant to California—and to the East Bay—which has an abundance of solar energy that can be maximized when paired with energy storage.
"Renewable energy is critical to our clean energy future and wind and solar alone will not keep the lights on," said Nick Chaset, CEO of EBCE. "We're thrilled to partner with an experienced partner like Convergent Energy + Power, which has over a decade of expertise developing energy storage assets, to deliver our first energy storage asset and help us meet our climate goals, specifically to provide 100% clean energy to all of our customers by 2030."
"We are proud to continue bringing energy storage assets online that both reduce our customers' costs and carbon footprint at the same time," said Convergent CEO Johannes Rittershausen. "East Bay Community Energy is an optimal community energy partner who shares our deep commitment to accelerating the clean energy transition."
Convergent has invested or committed over $400M in 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 yield seven-figure savings from day one 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. With over $400M in capital invested or committed, Convergent is the leading independent owner and operator of energy storage and solar-plus-storage solutions. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.
About East Bay Community Energy
EBCE is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County and fourteen incorporated cities, serving more than 1.7 million residential and commercial customers. EBCE initiated service in June 2018 and expanded to the cities of Pleasanton, Newark, and Tracy in San Joaquin County in April 2021. As one of 19 community choice aggregation (CCA) programs operating in California, EBCE is part of the movement to expedite the climate action goals of their communities and those of California. EBCE is committed to providing clean power at competitive rates while reinvesting in its local communities. For more information about East Bay Community Energy, visit ebce.org.
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SOURCE Convergent Energy + Power