Energy Storage Developer Convergent Seeks to Double Portfolio

(Bloomberg) -- Convergent Energy and Power LP, a U.S. developer of energy-storage projects, is seeking to double its portfolio to about 130 megawatts of operating systems by the end of next year.

The company currently has 66.5 megawatts of operating energy-storage projects in New England, New York, Ontario and on the the electrical grid that stretches from Washington to Chicago, Chief Executive Officer Johannes Rittershausen said in an interview. New York-based Convergent more than doubled its portfolio by acquiring two flywheel projects in the Northeast last month.

Convergent is developing more than 60 megawatts of additional projects, and has deals to provide storage capacity to two California utilities. Rittershausen expects about 6 megawatts of that to be online by the end of the year.

To contact the reporter on this story: Brian Eckhouse in New York at beckhouse@bloomberg.net

To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Will Wade, Margot Habiby

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