The deal for 21MWh nearly doubles the size of Convergent, which is the largest operator of energy storage systems in Ontario, Canada, with 26 MW in service.
The joint venture with Shell New Energy will start with industrial battery storage systems at two Shell Canada Products sites cilities in Ontario. The two also plan to collaborate on future projects.
“Convergent is focused on building projects that save our customers real money while also increasing the overall sustainability and reliability of electricity,” said Johannes Rittershausen, CEO of Convergent. “We are proud to launch this joint venture with Shell to create value for a broader group of customers.”
By using the energy storage system developed and operated by Convergent, commercial and industrial customers can lower their energy bills by decreasing the amount of electricity their facilities consume during grid peak periods. For example, Convergent’s PEAK IQ dispatch algorithm is 25% more accurate at peak prediction than public market forecasts, which, coupled with the energy storage system, can save large commercial and industrial customers up to 40% on their electricity bills. The first two projects under the joint venture are currently being built in Brockville and Sarnia, Ontario.
“Convergent has a strong track record of delivering cost savings and resiliency services to large industrial customers,” said Eric Bradley, Global General Manager Connected Energy, Shell New Energies. “This energy storage offering complements the broader suite of solutions, including energy efficiency and energy management, that we already provide.”