Convergent Energy and Power Selected as 2022 Platts Global Energy Awards Finalist

Presented by S&P Global Commodity Insights, the awards recognized Convergent’s Solar-Plus-Storage System providing a Non-Wires Alternative for National Grid in the “Infrastructure Project of the Year” category

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that it has been named a finalist for the 24^th Annual Platts Global Energy Awards in the “Infrastructure Project of the Year” category.

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Convergent's solar-plus-storage system providing a non-wires alternative for National Grid in Cicero, NY. (Photo: Business Wire)

Often described by S&P Global Commodity Insights as "the Oscars of the energy industry," the Platts Global Energy Awards recognize corporate and individual innovation, leadership, and exemplary performance in 19 categories spanning the entire energy and chemicals complex. This year’s awards finalists represent 26 countries from Europe, Asia, and the Americas.

Convergent was named a finalist in the “Infrastructure Project of the Year” category for its solution with National Grid, which is one of the first solar-plus-storage systems providing a non-wires-alternative (NWA). The system, designed, constructed, and operated by Convergent, will deliver more cost-effective, reliable, and sustainable electricity to National Grid customers in Cicero, New York, while leveraging solar energy during nonpeak periods.

Because the system is DC coupled, meaning that two disparate systems are paired such that they share a single connection point to the grid, energy can be captured that would otherwise have been lost in an alternative solution, thereby increasing the utilization of emission-free energy. In addition to providing more sustainable, cost effective and reliable energy to National Grid and its customers, Convergent’s NWA defers the need to construct or upgrade components of pre-existing infrastructure, such as distribution or transmission systems.

“It is an honor to be recognized by S&P Global for our efforts, together with our partners at National Grid, to modernize energy infrastructure and bring sustainable and cost-effective power to communities in New York State,” said Johannes Rittershausen, Convergent’s Chief Executive Officer. “Energy storage is the linchpin of the clean energy transition, 'firming' renewable generation so it is available when it is needed most. Convergent is committed to accelerating the clean energy transition through AI-powered energy storage; we believe this system will serve as a model for the broader energy storage sector.”

“The NWA Pine Grove installation in Cicero, N.Y. aligns with our Clean Energy Vision and is a glimpse into the future of electricity delivery,” said Brian Gemmell, National Grid New York’s Chief Operating Office for Electric. “This solution increases the amount of renewable energy on the grid while deploying storage solutions to support our infrastructure at times of peak usage. Convergent Energy and Power’s innovation adds reliability and resiliency to our grid that directly benefits our customers. We are proud of our work with Convergent and honored to be recognized for it.”

"In a year of unexpected challenges, from Europe's energy crisis to trade-flow changes and banner market volatility, it's particularly inspiring to see the innovation and leadership of this year's finalists in steering a course toward a better energy future," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're proud to honor this year's finalists and celebrate their efforts."

The winners of the Platts Global Energy Awards will be selected by an independent panel of judges. Winners will be announced on December 8^th at an awards ceremony and gala in New York City.

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 $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.

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