North America’s top supplier of energy storage solutions is Convergent Energy + Power (Convergent). Convergent can assist clients in lowering electricity costs and improving reliability by financing and managing every phase of the development cycle for energy storage. Convergent has over ten years of experience in this area. Commercial, industrial, as well as utility-scale assets of the company have the potential to save money in the seven figures while promoting the switch to clean energy. To maximize value and improve asset performance, Convergent’s proprietary PEAK IQ® asset management platform combines deep market knowledge with machine learning. Convergent is a prominent independent operator as well as the owner of energy storage as well as solar-plus-storage solutions, with over $400 million invested in facilities in deployment or allocated to projects in development.
Convergent stated that its Puerto Rico subsidiary had signed a power purchase and operation deal with the PREPA (Puerto Rico Electric Power Authority) for a 100 MW solar production project coupled with a 55 MW battery to be situated in Coamo, Puerto Rico, a town in the island’s south-central region. Convergent Coamo, a Puerto Rican subsidiary of Convergent, will own and manage the solar-plus-storage system. The system, which is a component of a larger strategy to speed up Puerto Rico’s strategic clean energy transition, is currently anticipated to go online in 2024, subject to compliance with usual requirements.
With its ambitious renewable energy targets, Puerto Rico can lessen the effects of extreme weather events that are made worse by climate change and the island’s aging, battered electric grid. Hurricanes Maria, as well as Irma, were especially devastating, causing 80 percent of Puerto Rico’s electric grid to be damaged. In response to these issues, the island has set an ambitious goal of generating 40% of its energy from renewable sources by 2025 and 100% by 2050, based on its most abundant resources: solar and wind.
As part of its multi-tranche solicitation endeavor to revitalize Puerto Rico’s electric grid, PREPA has awarded Convergent’s large-scale solar plus storage system one of the first contracts. In close collaboration with regional stakeholders and in partnership with PREPA, Convergent is going to work to improve Puerto Ricans’ access to reliable electricity while advancing the Commonwealth’s goals for renewable energy.
“Positive steps are being taken by Puerto Rico to achieve its admirable goals for renewable energy. In order to hasten the transition to clean energy, Convergent Energy + Power is prepared to assist Puerto Rico in increasing the use of solar power “According to CEO of Convergent Johannes Rittershausen. With the support of PREPA and our local ally Ashford Renewable, we are overjoyed to help Puerto Rico get cleaner, more dependable power.